Letter: Higher insurance premiums don’t always mean better coverage

Health insurers have increased premiums by 20 percent over the last five years, with families now paying an average of $22,000 each year for coverage. That is a staggering figure considering the median U.S. household income is about $70,000 a year. Unfortunately, higher premiums don't always mean better coverage – especially for North Carolinians. In 2022, Blue Cross Blue Shield of North Carolina (BCBSNC), our state's largest insurer, denied more than 2.9 million in-network claims while pocketing $204 million in profits. There is a clear imbalance here, as BCBSNC continues to make money hand over fist while its customers are saddled with higher out-of-pocket costs.

What's more, it was reported earlier this month that BCBSNC received a $203 million federal tax refund last year – which the company dismissed as an "accounting adjustment." BCBSNC declined to explain how or why it collected these taxpayer dollars.

Given BCBSNC's profit-driven business model and consistent lack of transparency into its policies and practices, it is not surprising the company recently lost the State Health Plan contract – nor is it surprising that several of its fellow Blues are being sued for alleged price-fixing and other anti-competitive practices in Michigan and other states.

Our lawmakers need to take a long, hard look at the state of health insurance in North Carolina and act swiftly to close tax loopholes and prevent insurers from turning extreme profits at the expense of families who, in many cases, are struggling to make ends meet in the current economy. We should be putting money back into the pockets of consumers – not big insurance companies.

Leroy Lail, Conover