North Carolina Gov. Roy Cooper (D) on June 10 signed a bill that allows Blue Cross and Blue Shield of North Carolina to transfer its assets into a holding company. “Our goal is comprehensive health insurance with access to care in every county of our state at the most affordable cost possible, and this legislation with consumer protections in place aims to keep the company strong while continuing its commitment to its North Carolina home,” Cooper said in a statement regarding HB 346. State Insurance Commissioner Mike Causey publicly opposed the measure, arguing it would limit his regulatory authority to make sure the holding company acts in the best interest of consumers, Modern Healthcare reported. State Treasurer Dale Folwell was also in opposition and pleaded with Cooper to consider amendments to the bill that he said would protect consumers. Blue Cross NC is currently the largest insurer in North Carolina, serving 2,395,993 members, 27.8% of the overall market.
Source: AIS’s Directory of Health Plans