Tennessee's biggest health insurer is preparing to ask for additional rate increases next year comparable to the 36.3 percent jump in premiums charged this year on its ObamaCare health exchange plans.
BlueCross BlueShield of Tennessee estimates it will end up losing more than $150 million on its health exchange plans offered in 2015, company CEO J.D. Hickey said Thursday.
"We are not out of the woods yet and as we look out on 2016, we believe that no Tennessee insurance carriers will make any money on this market and, in fact, we're all going to lose a substantial amount of money," Hickey told the Chattanooga Rotary Club. "As a result, we've already told the Department of Commerce and Insurance in Nashville that we are going to need at least one more rate increase on the order of magnitude of what it was last year."