Tennessee Obamacare Options To Expand In 2021
UnitedHealthcare will join the Tennessee Obamacare marketplace in 2021, offering a new option for residents of cities in West and Middle Tennessee, state insurance officials said Tuesday.
However, BlueCross BlueShield of Tennessee, the only insurance carrier to offer Obamacare coverage statewide, intends to raise its rates by nearly 10%.
The Tennessee Department of Commerce and Insurance announced Tuesday it approved the addition of United and the rate hike by BlueCross alongside other expansion and price changes statewide.
All changes still need to be approved by federal officials later this month before open enrollment begins in November.
Expanded options signal a continued strengthening of the federally facilitated health insurance marketplace created by the Affordable Care Act, often known as Obamacare, in Tennessee.
The marketplace was near collapsed a few years ago due to lack of options and skyrocketing rates, but it stabilized and expanded in recent years.
As of 2021, more than one Obamacare provider will be available in 81 of Tennessee's 95 counties, according to an announcement from the Department of Commerce and Insurance.
Some companies are also dropping their prices.
"The department has approved premium rate decreases from market participants for just the third time in the ACA marketplace era," said Insurance Commissioner Hodgen Mainda in a news release announcing the new rates. "Increased competition and lower prices perfectly align with Governor Lee's vision to help support Tennessee consumers."
UnitedHealthCare coverage, the only completely new option on the marketplace, will be available in Nashville, Memphis, Jackson and Chattanooga, plus smaller cities like Columbia, Dickson and Lawrenceburg.
According to the state government announcement, the other options are as follows:
BlueCross BlueShield of Tennessee remains the only carrier to offer Obamacare insurance statewide. The company plans to increase its rates an average of 9.8%.
Bright Health will continue to offer coverage in Knoxville, Memphis and Nashville. The company plans to increase rates an average of 3%.
Celtic/Ambetter Insurance will continue to offer coverage in Nashville, Knoxville, Chattanooga, Memphis, Columbia, Dickson and Lawrenceburg and new expansion into Jackson and the Tri-Cities area. The company plans to decrease rates an average of 2.5%.
Cigna will continue to offer coverage in Chattanooga, Jackson, Knoxville, Nashville, Memphis and the Tri-Cities area. The company plans to decrease rates an average of 6.1%.
Oscar Health will continue to offer coverage in Nashville and Memphis and plans to increase rates an average of 9.9%.
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