Blue Cross says it overestimated expenses, lowers 2018 rate request
On Wednesday, however,
The company said that the ACA market, now in its fourth year of health insurance coverage, is beginning to show signs of stabilization and predictability.
"The individual market in
"Put simply, we got information in June and July that made us confident we could reduce our requested rate increase for 2018," Tajlili blogged. "At Blue Cross NC, we have gotten a better handle on the anticipated medical costs of people covered in this group which has made it easier for us to estimate the necessary price of our ACA health plans."
The proposed reduction runs counter to
Most people insured under the ACA do not pay the full cost of premiums, deductibles and co-pays because they are federally subsidized. In
The single biggest factor for the company's 22.9 percent request in May was a Republican proposal to defund cost sharing reductions for low-income individuals on the ACA. About 67 percent of
It's not clear whether the failure of the Republican repeal effort factored into
"What this is based on is claims data," said
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