Trump's move prompts 14 percent rate increase on North Carolina Blue Cross ACA plans

[Miles Archer]

Trump's move prompts 14 percent rate increase on Blue Cross ACA plans



http://www.wral.com/trump-s-move-prompts-14-percent-rate-increase-on-blue-cross-aca-plans/17026037/

DURHAM, N.C. — President Donald Trump's decision to halt federal payments to insurers under the Affordable Care Act will cause premiums on Blue Cross Blue Shield of North Carolina health plans purchased through the HealthCare.gov marketplace to increase by an average 14.1 percent next year, the company said Wednesday.

The government has been reimbursing insurers for "cost-sharing reductions," or CSRs, they pay out to people with low to modest incomes to defray the cost of co-pays and deductibles, but the Trump administration said those payments would stop immediately because the government lacks the congressional approval needed to pay them.

"Ending these federal reimbursements will drive up premium costs and make it harder for insurers to participate in the ACA marketplace in the long run," the company said in a statement. "Had CSR payments not been eliminated, Blue Cross NC’s final rate request for ACA customers’ average would have been near zero."

Still, the 14.1 percent increase is less than Blue Cross' initial request for a 22.9 percent increase and is lowest rate increase for the insurer since it started offering ACA plans. Blue Cross credits a stable market for the smaller increase.

[DetlefK]

1. This is the fault of Hillary. No, wait, Obama. No, wait, immigrants. No, wait, Muslims.