In solidarity with 35 organizations across the state, we are releasing this coalition letter to urge the N.C. General Assembly to oppose Blue Cross Blue Shield of North Carolina’s (BCBSNC) proposal to “restructure” in House Bill 346 and Senate Bill 296.
If passed, these bills would allow BCBSNC to set up a parent “nonprofit holding company” to bypass our state’s conversion statutes and drain nonprofit assets that should remain protected for the exclusive purpose of benefiting the health of North Carolinians.
HB 346 and SB 296 are scant in detail, and BCBSNC has failed to provide any information on how the restructuring scheme will impact coverage, affordability, accessibility, and network adequacy for its 4.3 million policyholders. Moreover, we question the timing and true motives of BCBSNC in seeking this change given their dominance of the insurance market.
Given our concerns, we are asking BCBSNC to withdraw this plan from consideration immediately.