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NC insurer drops coverage in new health exchange

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PINEHURST, N.C. (AP) - A small insurance company has announced it will not offer federally subsidized health insurance in North Carolina.

The Thursday announcement by Pinehurst-based FirstCarolinaCare Insurance Co. likely leaves most state residents with just one option as enrollment under the new Affordable Care Act begins Oct. 1.

Company president Kenneth Lewis says his firm is worried about continued uncertainty surrounding how the new health insurance exchange will be introduced and managed in the state.

That leaves Blue Cross and Blue Shield of North Carolina and Coventry Health Care of the Carolinas still participating, with only Blue Cross offering plans to residents in all 100 counties. More than 1 million North Carolinians are expected to sign up for subsidized health insurance under the new federal law by the Jan. 1 deadline.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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