Tuesday, September 27, 2016

Blue Cross Blue Shield to curtail enrollment
BlueCross BlueShield of Tennessee will not sell insurance plans on the Obamacare exchange in the state's three largest metro areas next year, as it deals with hefty losses. The company made the change in a filing with the U.S. Department of Health and Human Services. Earlier this summer, the insurer requested — and was granted — state approval for an average 62-percent premium increase. That is still awaiting federal approval. By the end of 2016, BCBST anticipates losses from three years selling on the exchange established by the Affordable Care Act will approach $500 million. First District Congressman Rep. Phil Roe said the announcement is “deeply troubling news on top of BlueCross’ proposed 62% rate increase for 2017” . And he called for a review of the Affordable Care Act. Congressman Roe also said he supports House Republicans’ “Better Way” proposal agenda which includes at least 48 ideas for health care reform. BlueCross BlueShield currently provides coverage to approximately 83 percent of Tennesseans in the individual market. Democratic lawmakers said following the announcement, that the decision is the result of four years of inaction by the legislature. "For four years, the legislature has gone out of its way to undermine the Affordable Care Act, and that's now coming back to bite us," state Sen. Jeff Yarbro said. "The legislature's decision to do nothing on Medicaid expansion is plainly contributing to an unstable insurance market. It's time for legislators to get their heads out of the sand and take action that will actually help Tennesseans," Yarbro added.


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