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Originally Posted by 2017ish
Apologies for raining on the parade, but have you read the letter from BCBS to Commissioner McPeak? https://mgtvwate.files.wordpress.com...oss-letter.pdf (A scribd version is linked from within the article you cited) I don't see this as great news unless one is in a position to have health insurance heavily subsidized or is mainly concerned about having "ACA-compliant" insurance next year... Basically, as part of its view of its mission and in response to no one else being willing to shoulder the task in that geographic area, one nonprofit insurer has committed to continuing to attempt to square the circle for one more year--as long as premiums are boosted substantially to allow it to not lose too much money on this costly submarket.
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Per a paragraph in the letter:
"Given the potential negative effects of federal legislative and/or regulatory changes, we believe it
will be necessary to price-in those downside risks, even at the prospect of a higher-than-average
margin for the short term, or until stability can be achieved. These risks include but are not limited
to the elimination of Cost Sharing Reduction subsidies (CSRs), the removal of the individual mandate
and the collection of the health insurer tax."
Yes, it is not an ideal situation but the fact that BCBS will be back in the Knoxville area is good news. There were rumors that BC might leave the entire state so most likely, they will continue to offer insurance in the areas where they offer it today. I do not live in Knoxville but in a county where BCBS is the only health insurance carrier.