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Thursday, July 12, 2018

Health insurance premiums in flux
As health insurers prepared to file their rate requests Wednesday for individual plans in Tennessee next year, the Trump administration has thrown a wrench into the current payment method that adjusts payments to insurers to compensate for plans to cover higher risk individuals. The Centers for Medicare and Medicaid Services (CMS) has decided to freeze more than $10 billion of planned risk adjustment payments to health insurers under the Affordable Care Act. Administrator Seema Verma said the agency sided with a court decision in New Mexico which ruled that the risk-adjustment formula was illegal even though another court challenge upheld the program. The Blue Cross and Blue Shield Association in Tennessee said removing risk adjustment payments "will significantly increase 2019 premiums for millions of individuals and small business owners." The uncertainty about the pool of those insured is likely to cause companies to charge more to cover their higher risk. Tennessee's market had appeared to be stabilizing with two new insurers entering the market next year and BlueCross BlueShield of Tennessee said it expected relatively stable rates next year. But the suspension of the federal payments for insurers who take on riskier consumers will complicate next year's market and boost prices again. Julie Mix McPeak, Commissioner of the Tennessee Department of Commerce and Insurance and who is president of the National Association of Insurance Commissioners, said she hopes the uncertainty about the payments can be resolved quickly. "State regulators will be in contact with carriers to determine the potential impact a lengthy suspension of risk adjustment payments could have on solvency and premiums," McPeak said.


Return to Today's News Stories - Front Page

Tuesday, November 13, 2018

  • Lee to review open records

    Monday, November 12, 2018

  • Classical concert
  • Sanderlin/Toby pursuit and arrest
  • Empower planning a tiny home community
  • Allison died of smoke inhalation
  • Byrd charged in Sunday stabbing
  • Commodity distribution
  • Gas prices

    Sunday, November 11, 2018

  • Allison fire death
  • Office on Aging Thanksgiving

    Friday, November 09, 2018

  • Cocke County School Board meets
  • Inmates Warren and Mantooth face charges
  • KCCB electronics recycling
  • After Thanksgiving hikes
  • Small/Johnson indicted federally

    Thursday, November 08, 2018

  • Vehicle thief eludes officers
  • Cocke County home destroyed by fire
  • National Diabetes Awareness Month
  • Thanksgiving travel to be heavy
  • Workers comp insurance premiums to drop
  • Workers comp insurance premiums to drop
  • Workers comp insurance premiums to drop
  •    

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