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Tennessee insurance commissioner approves premium requests
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NASHVILLE, Tenn. (AP) — Three companies lined up to sell insurance on the Obamacare exchange in Tennessee in 2018 have had their premium requests approved by the state's insurance commissioner.
The Tennessean reports BlueCross BlueShield of Tennessee, Cigna and Oscar Health each received approval from Julie Mix McPeak, commissioner of the Tennessee Department of Commerce and Insurance.
Cigna premiums will increase an average 42.1 percent, while BlueCross BlueShield of Tennessee asked for 21 percent, most of which is attributed to uncertainty due to the ongoing debate over Obamacare. Oscar Health is new so there is no prior year comparison.
More than 80 percent of Tennesseans who buy individual insurance receive tax credit that offsets the premium costs.
Open enrollment begins Nov. 1 and runs through Dec. 15 — six weeks shorter than last year.