The proposed rate hikes will affect more than 160,000 people in Alabama who purchase insurance through the federal exchange, or about 5 percent of Blue Cross membership.
Rate increases range from 26 to 41 percent, depending on the type of plan. Proposed increases are lowest for bronze plans, which offer the least amount of coverage, and greatest for the most popular silver plans.
Blue Cross is the only insurance company that will offer Alabamians individual insurance plans through the exchange next year after the departure of Humana and UnitedHealth. Those departures were announced earlier this year.
The hefty rate hikes for Blue Cross customers will come on the heels of another increase in 2016 that averaged 28 percent for individual plans. The company lost more than $250 million on marketplace plans from 2014 to 2016, according to Blue Cross executives.
The high costs of individual marketplace customers in Alabama also factored into the departures of UnitedHealth and Humana, according to statements by those companies.” - Blue Cross proposes rate hike of nearly 40 percent on some Obamacare plans, al.com, 08/08/2016
The entire article appears in the link below:
http://www.al.com/news/index.ssf/2016/08/blue_cross_proposes_rate_hike_1.html
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