Whopping Rate increases in Tennessee!

IN an article published in the NashvillePost on May 14, they report:

“BlueCross BlueShield of Tennessee has filed to increase its health insurance premiums for 2016 individual plans by 36 percent, on top of a 19 percent increase approved last year.

Peers Humana and Cigna are also requesting increases for their individual plans — 15.8 percent and 0.4 percent, respectively. Last year, Humana was approved for a 14 percent increase while Cigna bumped its premiums by 7.5 percent. The percent increases from the three insurers are averages, as actual premium prices can vary based on age, region, tobacco usage and other factors.”

 

The article accounts for the huge increase on the fact that Blue Cross guessed to low on what claims would be under ObamaCare, and now have to make that up.  Blue Cross has about 88% of the business on the exchange and stands to lose “Tens of Millions of Dollars.”