BlueCross BlueShield announced it will not sell Obamacare coverage in Nashville, Memphis, and Knoxville, Tennessee in 2017, citing losses of $500 million.
“We have tried to make the Affordable Care Act marketplace model work for Tennessee, but we believe there are too many uncertainties to continue participating on a statewide level as we have before,” the company said.
“BlueCross committed early to the ACA marketplace and has been the only health insurer to offer coverage options in every region in the state since 2014,” it said. “And we have experienced losses approaching $500 million over the course of three years on ACA plans, which is unsustainable.”
BlueCross BlueShield’s withdrawal from these exchanges means that 100,000 individuals will lose their current insurance policy and have to find another plan.
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10 comments:
We all know that when people get something for free they tend to abuse it. There are a LOT of folks who qualify for subsidies from the Federal Government for the ACA. Those people are prone to abuse the new "free" health insurance and really take advantage of the system. That is why these companies are losing big bucks with ACA.
Wonder if Nancy or anyone ever read it after it passed.
Hope and change is working out pretty wel huh?
And now they want hildabeast ?
Interesting, how the insurance companies, who most likely lobbied and thought they were going to get a big pay day, were wrong.
Gotta wonder what they were promised.
Where are their federal paybacks?
It is destined to fail, just like Hillary's plan would have.
And the corrupt supreme court said this was constitutional.
Yep and now they want to try to impose free education. Most people with common sense know nothing is free in this world!everything has a price!
Because Obama care is a shame! It is just wealth distribution!
All republicans need to do is OPEN STATE BORDERS for hc.
Democrat told me Obamacare disaster wasn't Obamas fault. It's the insurance company fault. Obamacare is awesome. I asked what plan he had he said none I lie on my taxes and say I have it. True story. Vote trump.
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