The day before the a new online insurance marketplace is launched under Affordable Care Act, BlueCross BlueShield of Tennessee announced that its rates have received the federal stamp of approval.
The company's rates for the federally-run marketplace, also called the "exchange," are now available at the company's website.
Though four companies are offering plans on Tennessee's online marketplace, only BlueCross and Cigna have chosen to write plans for the greater Chattanooga area, according to the Tennessee Department of Commerce and Insurance.
BlueCross will offer a total of 54 plans in all of Tennessee's 95 counties, and said today that its rates were lowest among most plan levels across the state -including zero-deductible plans.
For example, the company said a 22-year-old person with a child living in the Chattanooga area, making about $31,020 annually, would pay $153 a month for coverage with a Silver plan on BlueCross' Network E, once federal subsidies were included.
"We've positioned our rates to be very competitive, and we feel that, between our affordable pricing and high-value physician networks that we are the best choice for Tennesseans looking for insurance," said Henry Smith, chief marketing officer for BlueCross.
Rates will vary by network, coverage selections and region.
For more information, read Tuesday's Times Free Press.