RALEIGH (May 24, 2023) – The North Carolina Justice Center remains firmly opposed to House Bill 346 in its current form. Blue Cross NC’s proposal continues to raise concerns about affordability, coverage, and access to care for millions of its policyholders. The legislation prioritizes the interests of a multibillion-dollar insurance company over the health and wellness of North Carolinians. Furthermore, Blue Cross NC’s proposal undermines our state’s conversion statute, jeopardizing the possibility of establishing a multibillion-dollar public foundation dedicated to promoting the health and well-being of North Carolinians.
Blue Cross NC says it must restructure in order to be more competitive, but the numbers tell a different story; it reported $10 billion in annual revenue in 2022 and controlled 80 percent of the individual and group health insurance market in North Carolina in 2021.
Any changes to Blue Cross NC’s structure must be made transparently and with public input in order to determine the impact on future costs for policyholders.