Blue Cross and Blue Shield of North Carolina announced Wednesday that consumers could expect to see a 13 percent increase on individual Affordable Care Act (ACA) plans. On the plus side, many of those customers will receive subsidies.
Rates for grandfathered and transitional plans will also see a double-digit increase next year.
Here’s more from the BCBSNC website:
“There are three distinct categories in the individual health insurance market, and each is affected differently,” said Patrick Getzen, BCBSNC vice president and chief actuary. “Rates are based on the population of each group and the medical services they use. There needs to be a mix of customers within each category to balance risk and expected costs.”
Some customers may see rate changes that vary significantly from the average increase for their group. Many ACA customers will benefit from federal subsidies that are available to qualified consumers based on household income. Several factors impact rates, including the population of the group and the medical services they are using.
Blue Cross will offer 35 plans in all, with consumers able to compare plans starting November 15th. The annual enrollment period runs from mid-November through Feb. 15, 2015.
Blue Cross and Blue Shield is North Carolina’s largest health insurer.