BlueCross Blue Shield intends to raise rates for 2017 coverage BlueCross BlueShield of Tennessee is preparing to request for additional rate hikes in the coming months. The company is the largest health insurance provider in the state and is looking to raise premiums in an effort to overcome financial losses. The insurer has estimated that it will have lost $150 million by providing insurance policies through exchange marketplaces. Exchanges were designed to make coverage more accessible, something which they managed to accomplish quite well. Insurers are fighting financial losses by…
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State seeks more information on growing health insurance premiums
Senator calls for Tennessee Insurance Commissioner Julie McPeak to testify before legislative committee Tennessee Senator Mark Green has submitted a request to the state’s Insurance Commissioner, Julie McPeak, to testify before a legislative committee concerning increasing health insurance premiums. Premiums on coverage provided through the state’s insurance exchange, which is operated by the federal government, have grown in 2016, and this has become a concern for many consumers living in the state. Some lawmakers are eager to determine why premiums have been growing aggressively. State officials aim to find more…
Read MoreTennessee health insurance co-op faces complaints from consumers
Tennessee consumers are having problems with the state’s health insurance co-op, Community Health Alliance Tennessee’s Community Health Alliance, a health insurance co-op operating in the state, has become the subject of complaints being issued to the Tennessee Department of Commerce and Insurance. Now, the state agency is looking to hear from more people that may have had problems with the co-op in an effort to determine how outstanding problems can be resolved. At the end of the year, the co-op is expected to shut down, which will leave some 27,000…
Read MoreNew health insurance model to be tested in seven states
CMS announces that a new health insurance model will be tested to reduce the cost of medical care A new health insurance model is set to be tested in the United States, according to an announcement made by the Centers for Medicare & Medicaid Service (CMS). The model was designed to improve medical care while also cutting costs and the concept behind the model was designed over the course of 10 years at the University of Michigan. Called the Medicare Advantage Value-Based Insurance Design Model, the program is meant to…
Read MoreHealth insurance premiums continue to grow in the US
Insurers are looking to raise rates on coverage being offered in 2016 Many of the country’s largest health insurance companies are looking to raise rates for the coverage they will provide in 2016. These insurers are seeking rate increases on policies provided through health insurance exchanges, and in some cases rates could go up by more than 40%. Blue Cross and Blue Shield is one of the insurers looking to raise premiums. For those living in Minnesota, coverage provided by the insurer could become significantly more expensive. Blue Cross and…
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