Business Briefs: BlueCross meets Affordable Care Act standards

Business Briefs: BlueCross meets Affordable Care Act standards

June 4th, 2013 by Staff Reports and Wire Service in Business Around the Region

BlueCross meets Affordable Care Act standards

Tennessee's biggest health insurer stayed within the spending standards of the new Affordable Care Act during 2012 and, unlike last year, will not be required to issue any customer rebates this year. BlueCross BlueShield of Tennessee said Monday it paid out 83.1 percent of its premiums collected on individual polices to health care providers, exceeding the 80 percent minimum required under ObamaCare. For large employers with more than 100 employees, BlueCross paid out 89.1 percent of the premiums it collected for medical services, exceeding the 85 percent minimum requirement.

Last year, BlueCross refunded $8.6 million to about 73,000 individual policy holders.

Mission Stone opens outlet in Chattanooga

Mission Stone & Tile, a retail distributor of tile and natural stone, opened a 3,000-square-foot showroom and design center Monday at 55 East Main St. - Suite 102. The showroom is the second for the Nashville-based Mission Stone & Tile, which is owned by Chattanooga native Mary Elizabeth Oropeza. Kristin Randle is relocating from Nashville to Chattanooga to serve as showroom manager and May May McGuire is a design consultant at the new store.