NC Treasurer To UNC Health Care: Put Up $1 Billion To Guarantee Cost Savings
NC Treasurer Dale Folwell is asking UNC Health Care to put up a $1 billion bond to back its promise to cut medical costs after UNC creates a business partnership with Charlotte’s Atrium Health. Folwell issued his call for a $1 billion performance bond six days after expressing his concerns about rising health care costs to UNC Health Care CEO William Roper. Folwell oversees the State Health Plan, which covers 750,000 retirees, teachers and state employees, and says he needs to cut $300 million a year from the plan’s operations to keep it solvent. UNC Health Care announced in August it would enter negotiations to combine operations with Atrium, recently rebranded from Carolinas HealthCare, to create one of the nation’s largest health care systems with some 60 hospitals and 90,000 workers.