In 2015, the North Carolina Department of Insurance approved Blue Cross Blue Shield of North Carolina’s 32.5 percent premium rate increase for 2016.
Thus, consumers are bracing themselves for steep rate increases for 2017. However, earlier this week, officials reminded customers that the rises are simply estimates — not approved rates — and that many individuals qualify for federal subsidies, according to the report.
In addition, a cost analysis brief published by HHS in April found premiums increased by $3 per month between 2015 and 2016. The analysis claimed the average monthly premium in North Carolina “is $497, and the average monthly subsidy is $399, resulting in a reduced cost of $98 for the policy holder, up from $95 in 2015,” according to the report. However, the analysis only included the 546,000 North Carolina enrollees who qualified for subsidies.
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