Aerial photo of BlueCross BlueShield of Tennessee headquarters in Chattanooga.After losing $141 million in the first year of offering individual health plans through the federal Affordable Care Act, Tennessee’s biggest health insurer wants to raise premiums next year by an average of more than 36 percent.
BlueCross BlueShield of Tennessee, which enrolled nearly two-thirds of the 231,00 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.
When the plans debuted last year, BCBS’ popular Silver option was among the cheapest plans anywhere in the country.
BlueCross Vice President Roy Vaughn said the nonprofit insurer’s mission was to serve the entire state as affordably as possible under the ACA, or Obamacare.
Read more
How Tennessee’s biggest health insurer helped ensure its own profits remained healthy in 2014