Monday night, the DOI Omnibus Bill (HB 382), which contained the change to current state law needed to allow Value Based Reimbursement, was vetoed. Value Based Reimbursement carries the potential to save North Carolinians hundreds of millions of dollars, which would be a huge step in the right direction towards controlling rising health care costs.
But despite Monday’s veto, we are thrilled to share some great news today: The General Assembly, in an 84 to 35 vote in the House and an 39 to 8 vote in the Senate, has chosen to override the veto.
This means that insurers and providers are now permitted to enter into innovative risk-sharing agreements that have the potential to reduce the cost of care while maintaining the quality.
It is important to note that the stated reason for the veto had nothing to do with Value Based Reimbursement, or anything else directly tied to health care costs. The veto was said to be due to a provision related to bond forfeiture.
The North Carolina Coalition for Fiscal Health is thankful to the General Assembly and the NC Department of Insurance for enabling innovation in North Carolina and helping to lower health care costs.