North Carolina Insurance Commissioner Wayne Goodwin, a Democrat, criticized Obamacare and the highly negative effects it has had on North Carolina’s health insurance market in a letter sent to Sylvia Burwell, secretary of the U. S. Department of Health and Human Services.
Goodwin, a Democrat up for re-election this year, warned that the ACA is driving up insurance costs, reducing consumer options and generating unsustainable financial losses for the insurers, with the potential risk that insurers will withdraw from the state altogether. …
Goodwin presented a bleak analysis of what he sees as a deteriorating situation in need of urgent attention. His most recent concern: All three insurers on the federal insurance exchange have eliminated agent commissions for selling individual policies under the ACA in North Carolina.
“Insurers cannot continue to have annual losses in the hundreds of millions and be expected to continue ‘business as usual,’ ” Goodwin wrote to Burwell. “I am highly concerned insurers may withdraw from the individual market in North Carolina altogether.” ….
United, along with Blue Cross and Blue Shield, and Aetna, which sells insurance as Coventry Health Care of the Carolinas, are the only three insurers that have offered ACA plans in North Carolina. Blue Cross, the state’s largest insurer, is the only one in all 100 counties.
Blue Cross lost $123 million on ACA policies in 2014, after factoring in federal financial aid, and is expected to report another loss in 2015.