Bipartisan North Carolina bill that would restructure Blue Cross and Blue Shield advances in state House

The North Carolina House has approved a bill that would restructure Blue Cross and Blue Shield and allow the health insurance provider to behave more like its for-profit competitors.

While supporters argued it would eliminate a competitive disadvantage, state Insurance Commissioner Mike Causey blasted the bill as an attempt to undermine his regulatory authority and swindle more than 4 million North Carolinians out of money guaranteed to them under state law.

"It's not Blue Cross's money — this is the people's money," he told legislators before the vote, urging them to protect his ability to hold insurers accountable to their consumers.