RALEIGH, N.C. (AP) — North Carolina’s largest health insurance company will continue selling broadly subsidized health insurance policies created by the federal Affordable Care Act despite what the company describes as whopping losses.
Blue Cross and Blue Shield of North Carolina said Thursday it will continue offering the “Obamacare” plans in all 100 North Carolina counties in 2017.
A Blue Cross decision to pull out would have hugely disrupted the marketplace for people seeking to buy required health insurance coverage. Cigna is the only other company offering the policies in a handful of Raleigh-area counties.
Blue Cross says it’s lost $400 million on its ACA business in 2014 and 2015. About 500,000 people in North Carolina have flocked to buy the coverage, sharply cutting the state’s high uninsured rate.