It was announced on yesterday that Blue Cross and Blue Shield of NC would reduce its proposed average rate increase for 2018 ACA plans from 22.9% (announced in May) to 14.1%. Although uncertainty around the continued funding of cost-sharing reductions still remains (a reason that BCBSNC gave back in May for not setting the proposed rate increase much lower at 8.8%), the ACA individual market in NC has become less volatile, according to this BCBSNC blog.
It is important to note that the lower 14.1% rate increase is only a proposal; it will need to be approved by the NC Department of Insurance. What we do know at the present time, however, is that Open Enrollment Period 5 is scheduled to happen as planned (from November 1, 2017 to December 15, 2017), consumers will have an opportunity to shop for new plans, and financial help will be available. Please spread the word!
NC Get Covered staff