Post by Logan on Jun 5, 2016 2:37:34 GMT -6
Blue Cross premium hikes in Texas, Oklahoma could mean Illinois sticker shock
Illinois residents who buy Blue Cross and Blue Shield health care coverage through the state insurance exchange may be in for Obamacare sticker shock, if proposed rate hikes by the largest insurers in Texas and Oklahoma are any indication.
Texas and Oklahoma are possible harbingers of Blue Cross' prices on the Illinois exchange because all three health plans are owned by the same company, Chicago-based Health Care Service Corp. Blue Cross is the most popular insurer on the Illinois exchange.
In Texas, Blue Cross and Blue Shield is seeking increases averaging 53.7 percent across its Affordable Care Act plans, according to documents posted online by the federal government. In Oklahoma, Blue Cross and Blue Shield is seeking rate increases that average 49.2 percent. It is far from certain if the rate increases will hold up on review, or how much they might change.
Illinois' proposed rates haven't been made public by the state so it would be premature to discuss, said HCSC spokesman Mark Spencer. But he cautioned against speculating on the company's prices in the 2017 Illinois individual market because there are differences between states and health insurance is priced locally.
Read more: www.chicagotribune.com/business/ct-blue-cross-obamacare-premiums-0605-biz-20160603-story.html
Illinois residents who buy Blue Cross and Blue Shield health care coverage through the state insurance exchange may be in for Obamacare sticker shock, if proposed rate hikes by the largest insurers in Texas and Oklahoma are any indication.
Texas and Oklahoma are possible harbingers of Blue Cross' prices on the Illinois exchange because all three health plans are owned by the same company, Chicago-based Health Care Service Corp. Blue Cross is the most popular insurer on the Illinois exchange.
In Texas, Blue Cross and Blue Shield is seeking increases averaging 53.7 percent across its Affordable Care Act plans, according to documents posted online by the federal government. In Oklahoma, Blue Cross and Blue Shield is seeking rate increases that average 49.2 percent. It is far from certain if the rate increases will hold up on review, or how much they might change.
Illinois' proposed rates haven't been made public by the state so it would be premature to discuss, said HCSC spokesman Mark Spencer. But he cautioned against speculating on the company's prices in the 2017 Illinois individual market because there are differences between states and health insurance is priced locally.
Read more: www.chicagotribune.com/business/ct-blue-cross-obamacare-premiums-0605-biz-20160603-story.html