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Blue Cross Blue Shield of Tennessee joins other carriers announcing large losses under ACA for 2015.
The major issue for BCBST and all insurers is the average age of enrollees is 42. Fifty three percent of enrollees are female. The "young invincibles" age 18 to 34 are still choosing not to enroll.
The average rate increase for BCBST for 2016 is 36.3 percent. All of this has equated to a financial loss of $300M in two years. In 2015 83 percent of enrollees received a tax credit this year that number increased to 87 percent. Does this mean that those not qualifying for a subsidy are not insuring by finding exemptions or alternatives?
People are enrolling in multiple plans and then dropping or not paying for one. In 2015 BCBST enrolled 164,000 but by November 1st insured about 143,000.
The question all carriers are facing is how do the create a sustainable market for themselves facing these numbers?
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