What the Blue Cross Blue Shield bill is really about
It's about money: $4.6 billion in cash. But it's also about the role this company should play in our state.
Insurance Commissioner Mike Causey is not the most vocal politician in the state.
So it was a noteworthy surprise for Causey to hold a press conference last week hoping to slam the brakes on a bill speeding through the General Assembly with broad support.
The short version is this: Blue Cross Blue Shield of North Carolina, the state’s largest and most powerful health insurance company, is pushing a bill that would fundamentally change its structure and relationship with the government.
The bill is about money, mostly. But it’s also about what role a homegrown nonprofit should play in our state.
It’s a fairly nuanced issue, but it’s not getting the open and honest debate that it deserves. Here’s what you need to know about the bill.
What this bill does
House Bill 346 is pretty technical in its details, but it’s actually fairly simple. The bill seeks to change how Blue Cross can manage its $4.6 billion — and growing — in reserve cash.