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BlueCross Marketplace Rates Approved for 2017

BlueCross Marketplace Rates Approved for 2017, but Affordable Care Act (ACA) Uncertainties Remain

Yesterday, the Tennessee Department of Commerce and Insurance (TDCI) approved the 62% Marketplace rate increase that we requested in June.

We appreciate TDCI’s approval of our rate increase, which aims to close the gap between what we charge our individual members and what we pay for their medical care. Other insurance carriers providing Marketplace plans in our state also earned approval for significant rate increases.

TDCI’s approval is an important step, but closing the cost gap is only part of what we have to consider moving forward.

Beyond rates, we continue to have concerns about uncertainties with the ACA at the federal level – including the possible elimination of cost sharing programs for many consumers, the end of risk programs for insurers and the prospects of legislative action.

Because of those concerns, we are keeping all of our options open for how we will participate in the 2017 Marketplace. We anticipate making a final decision in mid-September.

As valued business partners, we will provide updates as we approach the filing deadline with HHS.

If you have questions, please reach out to your BlueCross account representative. You can learn more about our 2017 rate increase by visiting bcbst.com/2017rates.

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