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North Carolina advances Blues plan restructuring over regulator objection

Posted On: Apr. 26, 2023 10:29 AM CST

Blue Cross & Blue Shield of North Carolina could transfer billions to a holding company instead of returning portions of that surplus to policyholders, under legislation that advanced April 25 in the state House, the Associated Press reports. The House Health Committee passed a bill with broad bipartisan support that would restructure BCBS of North Carolina, the largest nonprofit provider in all 100 counties, and allow it to behave more like its for-profit national competitors, the report says.