UPCOMING EVENTS

May 13, 2025

NC Chamber Business Summit on Mental Health

May 16, 2025

NC Leadership Conference

June 5, 2025

Triangle Business Journal 2025 State of Health Care in the Triangle

July 16 - July 28, 2025

North Carolina Healthcare Association Summer Meeting

LEGISLATIVE NEWS

STATE PENSION FUND & CRYPTOCURRENCIES

The North Carolina House approved two bills this week to change how the state manages its $127 billion pension fund, allowing investments in cryptocurrencies like Bitcoin.

House Bill 506 proposes a five-member board to oversee investments, while House Bill 92 permits this board to allocate up to 5% of the pension fund to cryptocurrency. These changes aim to improve the pension system, which has a $16 billion deficit, and lower returns compared to other states.

Republican State Treasurer Brad Briner supports both bills, which shift away from the more conservative approach of his GOP predecessor, Dale Folwell. The new North Carolina Investment Authority will consist of the treasurer and four members appointed by state leaders, requiring expertise in investments and over 10 years of successful management experience.

House Speaker Destin Hall (R-Caldwell) supports the cryptocurrency bill, which would limit investments to mutual fund equivalents and allow state employees to invest part of their portfolios in crypto. While some view this as smart investing, Democrats caution about the volatility of cryptocurrencies.

House Bill 506 passed the House on Tuesday, 110-3. House Bill 92 passed 71-44 on Wednesday and will move to the Senate.

Read more by NC Newsline

WORK-AND-SAVE PLAN PROPOSED

About half of North Carolina’s private sector employees, more than 1.8 million people, do not have options to save for retirement through their jobs, according to an AARP analysis. Many of these workers are in small businesses that cannot provide good retirement plans.

To address this issue, a bipartisan group of lawmakers is proposing a state-run retirement savings program called a “work-and-save plan.” This plan (House Bill 79) would allow employees to save directly from their paychecks. Participation would be optional for small businesses and employees, and there would be no enrollment costs. The program would also include self-employed individuals and is similar to programs in over 20 other states.

With Social Security offering limited support, work-and-save programs can help workers save more for retirement. AARP's Chris Brandenburg stated that those with a workplace plan are 15 times more likely to save for retirement.

Representative Jarrod Lowery (R-Lumberton), who introduced the bill, noted the program helps workers like farmers, contractors, and electricians by reducing financial worries in retirement. “When you’re retired, you really shouldn’t have to be worrying about: Can I make the car payment? Can I pay for my medications? Can I go on vacation?” he said. ”If you’re just living off Social Security, that’s your reality today.”

The default investment would be a Roth IRA, contributing 5% of salaries, with options for adjustments and portability across jobs.

Read more by NC Health News

PERSONAL DATA PRIVACY/SOCIAL MEDIA SAFETY BILL WINS APPROVAL

On Tuesday, strict new rules for social media and personal data in North Carolina were approved by a state House committee, leading to a potential vote soon. House Bill 462 claims to promote privacy by limiting companies' ability to sell customers' data. It would allow people to stop companies from selling their information, see what data is collected, and request deletion or changes to their data.

However, some parts of the bill may face opposition, especially the requirement for social media users to link their accounts to a driver's license or ID. This is intended to enforce a rule preventing anyone under 18 from having a social media account without parental permission. While banks and medical data companies are exempt, other companies must inform users about data collection, seek consent, limit data collection, allow users to review and modify their data, and secure customer information from hackers.

Read more WRAL News

PHARMACY BENEFITS MANAGERS BILL ADVANCES TO THE SENATE

House Bill 163 is advancing through the North Carolina General Assembly this week and seeks to lower prescription drug costs for consumers by regulating pharmacy benefit managers (PBMs), who act as intermediaries between pharmacies and insurers. The bill has bipartisan support and seeks to eliminate "spread pricing," where PBMs charge insurers more than what they pay pharmacies, and mandates that drug discounts be passed directly to patients.

However, critics warn that the bill might worsen the state's already high healthcare costs. They argue that the legislation might reduce choices for employers in creating drug benefit plans, potentially leading to increased costs and limited access to medications. Employers may respond to the bill's effects by raising premiums or costs for patients, especially those with high-deductible plans.

While some representatives share concerns about the excessive cost of prescriptions, others, like bill sponsor Representative Heather Rhyne (R- Lincoln County), advocate for the bill, indicating it might bring fairness to pricing and allow consumers to choose their pharmacies more freely. The bill is currently in the state Senate after passing its first reading.

Read more by WCNC

VETERANS’ LEGISLATION THIS WEEK

Three bills assisting veterans have advanced at the General Assembly this week. House Bill 57 names the Veterans History Museum of the Carolinas in Brevard, Transylvania County, as the state’s official veterans’ history museum. Representative Mike Clampitt (R-Swain) highlighted its importance for educating young people about the U.S. role in world peace and acknowledging past events. This bill passed its third reading in the House on Thursday.

House Bill 288 requires that the official POW/MIA flag be flown at all State-owned and public school buildings whenever the U.S. flag is displayed. Currently, the POW/MIA flag is only mandated to fly over the State Capitol on certain holidays. The measure has been referred to the Senate Rules Committee.

House Bill 69, known as The Military and Veterans Education Promise Act, has also moved to the Senate Rules Committee. This bill aims to ensure that military applicants are not denied admission by constituent institutions, allow deferment for military service by constituent institutions of The University of North Carolina, and provide in-State tuition for certain honorably discharged veterans.