News and Blog

Monday, 5 October 2015
BCBST cancels grandfathered plans | Individual rates jump 37.5%
clear

Wow, that's all I can say to the increase my BlueCross BlueShield of Tennesse individual health clients are about to receive. I just got the advance copies of the letters going out to tell them of the new January 1 premiums. Our most popular plan, the Silver 16 is going up 37.5%. That's going to leave a mark for sure. On top of that, all those "grandfathered" health plans our President said you could keep are going away as well. You better not buy that new car just yet, you might need that extra money jingling in your pocket to pay the higher premiums.

What's going on you ask? Well, all those guarantee issue policies with no pre-existing conditions and the ability to drop them as soon as you have your procedure seem to be catching up with BCBST. I don't know exactly how much money they lost on the ACA plans but it must have been a boatload. As you can imagine paying a couple months of premiums to get a hundred thousand dollar surgery is going to cost someone and I think that statement is pointing and you and I.

What are your options? We don't know just yet, the individual rates are supposed to be loaded into the systems on October 18th so we can see who wins the premium war for 2016. We will be updating our health insurance guidebooks as quickly as possible. If you would like a copy give us a call at 615-724-1701 or send me an email at dmoore@thebenefitbrokers.com 

Thanks much, we are all in this together and hopefully the pain is coming to an end.

clear
Posted on 10/05/2015 10:25 AM by David Moore
clear