- Associated Press - Saturday, January 30, 2016

RALEIGH, N.C. (AP) - Blue Cross and Blue Shield isn’t challenging agents’ descriptions that the insurer projects a loss of more than $400 million on its Affordable Care Act business in North Carolina.

Agents tell The News & Observer of Raleigh the state’s largest insurer provided the update in a presentation Thursday from Blue Cross’ sales director for individual and small market groups.

They say the sales director, Roy Watson Jr., reported the company’s combined loss for 2014 and 2015 on ACA customers is expected to top $400 million when the company announces its year-end financial results in the coming weeks.

Agents say Blue Cross told agents that it’s ending payments to them and terminating its advertising of ACA policies.

The newspaper reported Blue Cross didn’t challenge the agents’ description although it declined further comment.

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Information from: The News & Observer, https://www.newsobserver.com

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