State OKs three insurers for health exchange
Posted July 30, 2013
Raleigh, N.C. — The North Carolina Department of Insurance on Tuesday approved three health plans that insurers want included in the health exchange that will be set up under the federal Affordable Care Act.
The online exchange allows individuals, families and small businesses to compare insurance options and shop for coverage. Federal subsidies and tax credits will help some people purchase insurance.
The DOI approved rates for Blue Cross Blue Shield of North Carolina, Coventry Health Care of the Carolinas and FirstCarolinaCare, all of which plan to offer individual policies in the exchange. Blue Cross also plans to offer small group plans.
Details of the rates are considered trade secrets and weren't disclosed.
Under legislation the General Assembly passed earlier this year, the federal government will operate the exchange in North Carolina, so federal officials still must approve all three insurers – and any others wishing to sell coverage through the exchange.
The exchange will begin enrolling people on Oct. 1 for next year, when the law requires individuals to have health coverage or face a fine. A similar mandate for employers was delayed until 2015.