06 Sep 2023

Blue Cross NC Announces Rate Decrease and $130 Million Premium Savings for Individual Under 65 ACA Coverage in 2024

• Blue Cross NC's average rate for an individual ACA plan offered in 2024 is 4% lower than in 2023.
• Blue Cross NC's rate savings have significantly lowered total premium costs in the ACA market—by an estimated $1.35 billion1 from 2018 through 2024.
• Blue Cross NC is the only insurer that has offered ACA plans in all 100 counties of North Carolina since the ACA market first opened in 2014—and the only insurer that offered individual and family plans in all 100 counties prior to 2014.

DURHAM, N.C. – Blue Cross and Blue Shield of North Carolina (Blue Cross NC) announced today that the North Carolina Department of Insurance (NCDOI) has approved a 4% average rate decrease for individual customers and families who enroll in Affordable Care Act (ACA) plans in 2024.

This average rate decrease will lower total premiums by an estimated $130 million and reflects Blue Cross NC's commitment to creating sustainable health plans that are more affordable for all.

"Our rates for an individual ACA health plan are actually 5% lower than they were in 2018, despite the rising costs of health care and overall inflation in the U.S.," said Dr. Tunde Sotunde, CEO and president of Blue Cross NC. "As the only not-for-profit insurer in all 100 counties of the state, we are bringing savings directly to our members to make their health care more affordable."