About Our People Legal Stuff Careers
AP_532465507630.jpg
In this photo taken Saturday, Nov. 22, 2014, flyers promoting Blue Cross Blue Shield and Obama Care are on display to attract Hispanic customers at a kiosk at Compare Foods in Winston-Salem, N.C. Such atypical approaches to selling health insurance policies are playing out across the country since the second round of open enrollment under the federal Affordable Care Act opened in mid-November. Insurance companies and some states are focusing heavily on signing up eligible Hispanics, a group that accounts for a large share of the nation's uninsured but largely avoided applying for coverage during the first full year the health care reform law was in effect. Hispanics accounted for just 11 percent of those who enrolled in the private policies sold during the initial sign-up period, which ended in March. (AP Photo/Gerry Broome)

Blue Cross Blue Shield of Kansas will exit the Obamacare exchange next year

Actions

0

Another insurance giant, this time Blue Cross Blue Shield of Kansas City, announced Wednesday that it has to decided to pull out of the Affordable Car Act exchange next year, according to the Kansas City Star. The decision is expected to affect about 67,000 Blue KC members in 30 counties in Western Missouri and Wyandotte County and Johnson County in Kansas. Most of them, however, will receive federal subsidies to purchase health coverage on the exchange. 

Blue KC's president and CEO Danette Wilson said the exchange was jeopardizing the company--having lost more than $100 million on its plans since the ACA rolled out in 2014.

“This is unsustainable for our company,” Wilson said. “We have a responsibility to our members and the greater community to remain stable and secure, and the uncertain direction of this market is a barrier to our continued participation.”

The Wednesday announcement surfaced the same day as the Congressional Budget Office released its analysis of the revised health care plan passed by the House. According to the report, the legislation would reduce federal deficits by $119 billion over the coming decade and increase the number of people who are uninsured by 23 million in 2026,

Earlier in the month, Aetna announced its plans to exit Obamacare markets in Virginia in 2018. 

Comments
Read Comments
Comments
Facebook Twitter Instagram Pinterest Linked In List Menu Enlarge Gallery Info Menu Close Angle Down Angle Up Angle Left Angle Right Grid Grid Play Align Left Search Youtube Mail Mail Angle Down Bookmark