BlueCross plans major rate increase as Obamcare proves costly

Insurer loses $170 million on ACA plans last year

The BlueCross BlueShield building stays well lit at night in Chattanooga, Tenn., on Monday, November 3, 2014.

photo File Photo The BlueCross and BlueShield logos hang on the company's old building in downtown Chattanooga.

By the numbers

* $6 million - Net income in 2015, down from $199.7 million the previous year* $11.8 billion - Total revenues from all BlueCross plans, up 9.8 percent from the previous year* $449 million - Total taxes paid by BlueCross last year* 4,937 - Number of BlueCross employees in Chattanooga (includes 52 interns) among the 6,000 employees companywideObamaCare in Tennessee* 166,425 participants enrolled by BlueCross among 268,867 people signed up for coverage* $170 million - Net loss by BlueCross from such plans in 2015, up from the $141 million loss the previous year* 36.3 percent - Average premium rate increase for marketplace plans by BlueCross in 2016* $104 - Average premium paid for marketplace plans by people qualifying for tax credits in 2015, up 2 percent from the previous year* 85 - Percent of those on Obamacare plans receiving tax credits* 22 percent higher medical expenses for new enrollees under Obamacare than for already insured group members nationwide due to worse health conditions for new enrolleesSources: BlueCross BlueShield of Tennessee, U.S.