WILMINGTON — North Carolina officials announced Wednesday that Blue Cross Blue Shield (BCBS) can raise its rates for Affordable Care Act plans next year.
The North Carolina Department of Insurance just signed off on a 14.1 percent increase, WSOC reports.
Previously, the insurer asked for a 22.9 percent hike, but then lowered the request in August.
Blue Cross officials said most ACA members – those up to four times the poverty level – will qualify for federal subsidies to help them pay the higher premiums.
While customers who have been “grandfathered” in – plans that were in place before the ACA became law – have a decision to make because the company is doing away with those plans in January.
The company acknowledged those who have switched over to ACA plans could see a “significant” increase.
“Health care costs too much,” BCBS officials said. “We understand that a premium increase of any amount is difficult for many of our customers.”
BCBS is the only insurer offering ACA plans in all 100 counties in the state.