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A North Carolina General Assembly bill would cut government bureaucracy so that some companies like Blue Cross NC can more efficiently invest their resources, provided those investments are intended to reduce care costs healthcare, increase access or enhance the consumer experience.
Unfortunately, a small but vocal minority has made several false claims against the legislation that would lead one to believe that the bill does many things it does not and cannot do.
False Claim No. 1 is that the bill would increase insurance premiums. Not only have the naysayers failed to back up this claim with facts, but it also shows a fundamentally flawed understanding of how insurance premiums work.
Health insurance premiums are subject to state and federal oversight. Federal law requires that at least 80 cents of every premium dollar be used to pay health care bills for policyholders. If a health plan raises too much money and falls below this threshold, individuals and companies get a discount. No state law can override this. Additionally, insurance rates must and will continue to be approved by the NC Department of Insurance.
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If anything, House Bill 346 will put downward pressure on premiums as investments are made that reduce health care costs.
Take, for example, new investments that reduce emergency room use and instead help consumers find an adequate level of care in a more convenient environment. By providing people who use an emergency room with access to less expensive sources of care, the cost of health care can be reduced.
If your health care costs are lower, your premiums must be lower as required by law. This is a good thing for consumers and small businesses who struggle with the high cost of support.
False Claim No. 2 is that individuals and businesses will not receive due rebates as those dollars will be used for new investments. Again, this statement shows a lack of understanding of insurance discounts and the laws surrounding them.
Discounts are not based on how much a company has in its savings or reserves. The reserves are used to pay for unexpected medical bills, should they arise as during the pandemic. Insurance companies are required by law to keep a minimum amount of dollars in these reserve accounts. Reserves and discounts are not related in the way opponents of the bill describe.
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The discounts are required by federal law if an insurer fails to spend a minimum of 80 cents of every premium dollar on health care. State law cannot change this.
False Claim No. 3 states that the legislation will weaken oversight and transparency.
There is no language in House Bill 346 that changes the fact that the NC insurance commissioner retains all authority to regulate health insurance companies. The bill even goes so far as to say that any investments made due to this bill must be made public so the state can ensure that resources go towards lower costs and better access. Ensuring transparency while allowing you to offer better products and services is a win-win for the people who buy healthcare and operate businesses in our state.
False claim four is that the bill circumvents decades-old laws by causing a major blow to small businesses and individuals buying insurance.
The fact is, the bill removes excessive government regulation so companies like Blue Cross NC can more efficiently use their resources to reduce costs, improve access, and deliver new products and services that consumers demand. . A more efficient setup that reduces costs and delivers value to consumers should make sense to anyone running a business in NC.
House Bill 346 is supported by Republicans and Democrats. The majority of lawmakers in both houses are in favor.
And why shouldn\’t they be?
When you read the bill and examine the facts, you quickly discover that the claims against House Bill 346 are incorrect and misinformed.
The billers have ensured that North Carolina consumers are the beneficiaries of this legislation. They specifically wrote in the bill that any investment must be made to improve healthcare and lower costs for individuals and businesses.
The members of the General Assembly who support this bill, including Western North Carolina Representative Jennifer Balkcom and Senators Ralph Hise, Warren Daniel, Tim Moffitt and Kevin Corbin, should be commended for doing what is best for the their constituents and not have fallen victim to falsehoods, no matter how loudly and repeatedly they are stated.
Austin Vevurka is executive director of the Affordable Healthcare Coalition of North Carolina, a grassroots nonpartisan, nonprofit organization focused on reducing health care costs for individuals and businesses in the state.
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