CHATTANOOGA, Tenn. — Today, BlueCross BlueShield of Tennessee officially informed the Tennessee Department of Commerce and Insurance (TDCI) that BlueCross is willing to provide individual Marketplace coverage for consumers in the Knoxville region in 2018.
We’ll be working closely with TDCI to set the right conditions that would allow our return, with the understanding that we still reserve the right to not sign at the September deadline if the associated risks become too great.
Getting and keeping people covered through the Marketplace has proven challenging for us, with three consecutive years of volatility and losses totaling more than $400 million for this line of business. However – though it’s still early in the year – we’re pleased to see our 2017 Marketplace performance improving, both from a better claims experience overall, and a more sustainable rate structure that’s supporting the medical needs of these members.
But beyond measuring the financial impact, we believe stepping in to provide coverage for the Knoxville region is an extension of our mission to serve our fellow Tennesseans – especially those who do not have other options for coverage.
BlueCross BlueShield of Tennessee’s mission is to provide peace of mind through better health. Founded in 1945, the Chattanooga-based company is focused on serving more than 3.4 million members in Tennessee and across the country. BlueCross BlueShield of Tennessee Inc. is an independent licensee of the BlueCross BlueShield Association. For more information, visit the company’s website at bcbst.com.