BlueCross gets 36.3 percent rate hike

Staff file photo / BlueCross BlueShield of Tennessee headquarters sits atop Cameron Hill in downtown Chattanooga.
photo BlueCross BlueShield of Tennessee dominates Cameron Hill in downtown Chattanooga.

Chattanooga-based health insurer BlueCross BlueShield of Tennessee has received a 36.3 percent rate increase from the state's regulators.

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The increase comes after BlueCross lost $141 million in the first year of offering individual health plans through the federal Affordable Care Act.

In all, five providers received approval from the state Department of Commerce and Insurance to sell plans on the federally run exchange in 2016. The increases involve individual insurance plans sold on the exchange.

BlueCross BlueShield of Tennessee, which enrolled nearly two-thirds of the 231,000 Tennesseans who signed up for health insurance exchange plans last year, said it initially underestimated the number and cost of the medical claims filed by new enrollees.

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