Lack of Competition Impacts Affordable Care Act Fees - myfoxcarolinas.com

Lack of Competition Impacts Affordable Care Act Fees

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The Affordable Care Act became effective as a healthcare law on October 1, 2013, with the intent to make a nationwide effort to provide health insurance for millions of people who do not have health coverage. While the law has received criticism for website glitches, Dr. Don Jonas, an adjunct professor at Queens University, said people in North Carolina have a bigger problem - lack of competition.

“In North Carolina, one of the challenges, with those insurance companies that are part of the market place, we only have two that are competing for customers,” Jonas said. “We’ve seen in lots of other states, you’ll have nine or 10 different insurance companies to beat down the prices. In North Carolina, with only two there, we’re not seeing that competition occur to bring the prices down.”

In North Carolina, the two insurance companies, which are a part of the market place, are Blue Cross Blue Shield and Coventry Healthcare of the Carolinas. Residents in North Carolina may face higher insurance premiums because of the lack of competition.

Jonas said the roll out of the Affordable Care Act has not gone well but he said he expects some of the glitches to be resolved in the coming weeks.

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