NC Insurance Giant to Refund Millions to Customers Due to Health Care...

NC Insurance Giant to Refund Millions to Customers Due to Health Care Law

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blue-cross-blue-shieldHere’s one benefit of the new federal health care reform law: Blue Cross and Blue Shield of North Carolina is refunding nearly $156 million to ratepayers.

The state’s largest health insurance company, BCBS said it was refunding the money, held in a reserve account designed to pay future claims and help keep down big increases in future health policy rates, because it was no longer needed.

The company is also lowering its proposed rate hike to 5.4 percent next year, down from seven.

(READ the full story at Charlotte Observer)

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