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