Blue Cross and Blue Shield of North Carolina and the Department of Insurance announced a refund and rate hike for some insurance customers Monday. The refund and rate increase affect only people with individual policies and not those insured in a group plan.
The Department of Insurance says more than 215,000 people will get refunds before the end of the year. The refunds are drawn from a pot of more than $155 million. Refunds will vary depending on individual premiums.
The same customers will see their rates increase next year. Policy holders with Blue Advantage will pay 5.37% more, and those with Blue Options HSA for Individuals will pay 2.06% more.
To view CarolinaJournal.tv’s full report on the Blue Cross Blue Shield announcement, click on the video.