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As rates soar, Tennessee insurers and regulators say Obamacare proving too risky, costly

Friday, August 26th, 2016
By Dave FlessnerTimes Free Press

The price of individual health insurance coverage will increase next year by a record amount in Tennessee after state regulators agreed to the full amount of the rate increases requested by the three health insurers still offering exchange plans under Obamacare.

But even with a 62 percent rate hike in 2016, the state’s biggest health insurer is still evaluating whether to stay in the program, and Tennessee Insurance Commissioner Julie Mix McPeak said Tuesday she worries about whether the state can maintain a competitive marketplace under Obamacare. U.S. Sen. Lamar Alexander, R-Tenn., the chairman of the Senate Health Committee, said the rate increases are too costly for Tennesseans, and Obamacare, at least in its current version, “cannot be allowed to continue.”

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4916 Thoroughbred Lane, Brentwood, TN 37027 | Phone: (615) 376-2324 | Fax: (615) 376-2939