Thursday, February 11, 2016

North Carolina Blue Cross Struggling

Last month, we reported on some of the major challenges facing the Tar Heel State's Blue Cross/Shield:

"[M]essing up plan selections and effective dates, and dropping the ball on confirmations ... increasing security and safety measures at their facilities due to incidents involving “extremely frustrated customers.”

Well, the heat's now been turned up to red hot:

"The N.C. Department of Insurance will examine Blue Cross and Blue Shield of North Carolina to monitor the health insurer related to billing, coverage verification and other software issues ... [and] monitor compliance with statutes and regulations.”

Talk about an unenviable position.

But wait, it gets better (for certain values of "better"):

"Blue Cross CEO says insurer may leave ACA market in NC in 2017 ... expects to report its second consecutive financial loss in the coming weeks."

Y'know, when we mention "catastrophic plans" we're talking about HSA's, not bailing out water from a sinking boat.

[Hat Tip: FoIB Jeff M]
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