Wednesday, August 24, 2016

Thanks Ed and Andrew; "Tennessee's insurance regulators approved increases of more than 40 percent for Obamacare plans next year"

"Blue Cross-Blue Shield has the highest rate hike for 2017 at 62 percent, nearly double the 36 percent increase adopted for 2016, the newspaper said.

Cigna's boost of 46 percent was approved, as was Humana's boost of 44 percent...

Tennessee is likely to not be the only state facing higher Obamacare premiums in 2017. An analysis from consulting firm Avalere Health projected that average increases for the silver plan, the middle tier of plans, would be more than 20 percent.

...The insurance startup Oscar said on Tuesday that it will pull out of two Obamacare marketplaces next year in Dallas and New Jersey due to "uncertainties that will make it challenging for us to operate effectively."

...Aetna announced recently it will exit about 70 percent of its Obamacare markets next year and UnitedHealth will leave most of the 34 states it offers plans in.

The reason is mounting financial losses for insurers due to a sicker-than-expected enrollment population."