North Carolina Department of Insurance may issue fines against Blue Cross Blue Shield Blue Cross Blue Shield may be facing significant fines in North Carolina due to “unprecedented administrative failures,” according to the state’s Insurance Commissioner, Wayne Goodwin. The Commissioner intends to levy the maximum permissible fines against the health insurance provider as the insurers goes into its third month of enrollment and billing issues. The North Carolina Department of Insurance claims that it has received more than 8,700 calls and 1,900 formal complaints concerning Blue Cross Blue Shield this…
Read MoreTag: North Carolina health insurance
North Carolina health insurance companies owe $8.5 million in rebates
Insurers must return some $8.5 million in premiums to consumers and businesses Health insurance companies in North Carolina will be reimbursing consumers and businesses some $8.5 million, according to the state Insurance Commissioner Wayne Goodwin. These insurers have failed to comply with the medical loss ratio, a provision of the Affordable Care Act that requires insurers to spend no less than 80% of the money they collect through premiums on medical care. For insurers providing coverage to businesses, the medical loss ratio is set at 85%. Medical loss ratio continues…
Read MoreMore North Carolina businesses are offering health insurance coverage
Employer-sponsored coverage is becoming more common, but only slightly More businesses in North Carolina have begun to offer their employees health insurance coverage, but this has only increased by a slight degree since 2010. In North Carolina, nearly half of all consumers below the age of 65 currently receive employer-sponsored insurance coverage. Since 2010, this has risen by less than 1%, while other states have seen a greater increase in employer-sponsored health insurance coverage. A new report from the Department of Health and Human Services has highlighted this issue. Number…
Read MoreConsumers may need to shop around to find the best deal on their health insurance coverage
Insurance premiums are growing and consumers may be paying too much if they stick with their current policies With health insurance exchanges now open for business throughout the United States, consumers are being urged to shop around for the insurance coverage that they need. Insurers offering policies through exchanges will be increasing premiums for 2016 coverage. Some will be doing so by a significant margin, while others will be raising premiums by a modest degree. In order to find the best coverage at affordable rates, Sylvia Burwell, secretary of the…
Read MoreHealth insurance provider breaks regulations in North Carolina
Aetna could face fines and other penalties from state regulators for numerous infractions Health insurance provider Aetna has run afoul of North Carolina’s insurance regulators. According to the North Carolina Department of Insurance, the company has sold policies to several hundred consumers without the state’s approval. The agency approved these policies in order to ensure that people do not lose their health insurance coverage, but Aetna may be subject to fines and other penalties for selling insurance products without the states authorization. Company reports its own infractions, which may have…
Read More