Insurance companies struggle financially as ACA deadline arrives
Posted January 31, 2016
Updated February 1, 2016
Raleigh, N.C. — Since open enrollment began, more than 575,000 North Carolina customers have selected a plan or were automatically re-enrolled, but Sunday was the last day to sign up for health care insurance coverage for 2016 under the Affordable Care Act.
On the final day, volunteers in Raleigh helped people navigate through the enrollment process of the Affordable Care Act.
“Nine out of 10 people who have enrolled in health care coverage here in North Carolina have actually gotten help with the cost of that health insurance,” said Jennifer Simmons, with N.C. Navigator Consortium.
Simmons believes customers buying plans under the Affordable Care Act walk away with peace of mind.
“You actually have the peace of mind that comes from having health insurance. You know you can go to the doctor if there is an emergency. You know you can get that preventative care that people need,” she said.
Health insurance companies, on the other hand, are now saying they could use a little help. The Affordable Care Act is hurting them financially, according to Blue Cross Blue Shield, because of customers buying plans under the act.
Last year, the company reported a $50 million net loss. This year, Blue Cross Blue Shield is cutting commissions for insurance agents. United Healthcare and Coventry also made changes to commissions.
The final deadline to sign up for insurance at HealthCare.gov for 2016 coverage was midnight Pacific time, or 3 a.m. Eastern time.