North Carolina BCBS Sues Feds Over ACA Losses

Blue Cross and Blue Shield joined a growing roster of health insurers Thursday that are suing the federal government to collect millions of dollars the companies say they are owed under the Affordable Care Act. (The News and Observer)

The suit, filed on Thursday in the U.S. Court of Federal Claims in Washington, D.C., says the U.S. failed to live up to obligation to pay the insurer more than $147 million owed under an ACA program known as “risk corridors,” which aimed to limit the financial risks borne by insurers entering the new health-law markets. (The Wall Street Journal)

The federal government’s failure to make full payment has exacerbated BCBSNC’s losses in the exchange market in 2014 and 2015, the insurer said, adding it has made it significantly more challenging to continue selling ACA products. (HealthcareFinance)

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