News and Blog

Tuesday, 27 September 2016
BCBST to stop selling individual health policies

Beginning on January 1, 2017 BlueCross BlueShield of TN will stop selling individual health insurance policies in the three major cities of Tennessee. Nearly 120,000 residents of the Memphis, Nashville and Tennessee regions will have to find other policies from the very few carriers left to sell them. Citing large and continuing losses BCBST is not willing to risk another bad year and will transfer that risk to their competitors.

The challenge for most will be finding coverage suitable for their needs and budget. For those who qualify for subsidies affordable coverage will be there but most may find the networks inadequate. For those who earn too much to qualify for ObamaCare assistance, not only will the networks be very limited the cost will be unbearable. 

What are the options? If you need coverage without pre-existing conditions you will be limited to the exchange and ACA compliant plans. If you are relatively healthy there are some options to consider. Many religious organizations offer comprehensive plans that are NOT subject to the ACA penalties. These policies come with exclusions, limitations and pre-existing conditions but may be an affordable option. If your income is too high for a subsidy but you would not consider yourself "rich", a non compliant TRH policy can be a very affordable option. The thing to know is you will have to pay an ACA penalty of $695 per adult or 2.5% of  your AGI whichever is greater. 

My recommendation is to start looking as early as possible. January 1 rates should be available by mid October. 

Modern Healthcare Article

Tennessean Article



Posted on 09/27/2016 7:44 AM by David Moore