A map of the proposed coverage areas across Tennessee

NASHVILLE - BlueCross BlueShield of Tennessee, Cigna, and Oscar Health notified the Tennessee Department of Commerce and Insurance (TDCI) of their intent to offer individual health insurance coverage on and off the Federally Facilitated Marketplace when Open Enrollment begins for 2018 on Nov. 1, 2017.

Several approvals must occur in the weeks ahead before the companies are confirmed to participate in the 2018 market. Companies must file their rate requests to TDCI by July 1. The Department will review the rate requests with its actuarial team and has until August 16 to approve the policy forms and rates. The Centers for Medicare and Medicaid Services (CMS) will also review the filings and, following approval, companies will have until September 27 to sign agreements to participate in the marketplace.

“On behalf of Tennessee consumers, I’m pleased that there would be no uncovered areas in Tennessee, if the carriers’ coverage plans receive final approval and the carriers sign their respective agreements with the federal government,” said TDCI Commissioner Julie Mix McPeak. “However, the market remains challenged as most Tennessee consumers will still face limited options and increasing premium prices. The uncertainty about the future of the exchange, cost-sharing reduction payments, and enforcement of the individual mandate will likely increase carrier rate requests by 15 to 20 percent above what they would have otherwise filed. I share consumers’ frustrations about federal uncertainty and how that is impacting their ability to afford insurance.”

The final deadline for approval of any proposed rates is Aug. 16. Open Enrollment is Nov. 1 through Dec. 15.