At least someone is watching the matter----and it sure is not the NC STate Legislature which is supposed to be doing that as associated w/ its 'standing' (maybe they're lying) committee:
".....The auditor has not shown the same deference to BCBSNC that legislators exhibit, so hopefully the report helps explain the higher administrative charges.
Word is that the auditor could release one or both of the audits in early November. We'll be watching....."
more from that fine article at NC Policy:
September 30, 2008
State Health Plan is singing the Blues
Posted at 1:59 PM by Adam Linker
I haven't seen much media coverage of the latest news from the North Carolina State Health Plan, which insures more than 650,000 people across the state. The only documents I've seen are not encouraging.
In reports to the General Assembly and the SHP Board of Trustees , Executive Director Jack Walker projects that the plan will lose between $264 million and $280 million for fiscal year 2008/2009.
The original budget estimated that the SHP would have a $228 million cash balance by the end of July 2008, according to Walker. The actual cash balance at the end of July was $72 million.
Why the shortfall?
Dr. Walker stated that both medical and pharmacy claims increased 7.2% during the past fiscal year as opposed to the projected increase of 1.9%.
And what accounts for the original rosy projections? Higher than expected administrative payments to Blue Cross and Blue Shield of North Carolina. That's right, the same insurer that was overcharging the state's Health Choice program is also sinking the SHP....."