Federal regulators say they need more time deciding whether to stick with federal standards that could mean $12 million in rebates for more than 58,000 North Carolina residents who buy their own health insurance.
The U.S. Department of Health and Human Services had until this week to decide whether to give North Carolina insurance companies a waiver from a part of the federal health insurance overhaul.
The law requires they take no more than 20 percent of premiums for profits, salaries, and other administrative costs. Insurers are required to spend at least 80 percent on health care.
State Insurance Commissioner Wayne Goodwin asked Washington in September for a three-year, graduated delay in reaching the 80 percent mark. Goodwin says sticking to the rule would hurt competition.
Copyright 2013 by The Associated Press. All Rights Reserved.