Blue Cross and Blue Shield Wednesday announced that it will no longer offer individual ObamaCare insurance policies in parts of Kansas and Missouri, more than $100 million in losses since 2014.
“Like many other health insurers across the country, we were faced with challenges in this market,” said Danette Wilson, President and CEO of Blue KC, said in a statement, the Fox4kc.com.
“By 2016, we have lost more than $100 million. This is unacceptable for our society. We have a responsibility to our members and the larger community, stable and safe, and the uncertain direction of the market is an obstacle for our continued participation.”
Blue KC said, it will not be renewed, plans, or offer new ones for the year 2018. The company has 32 service areas in the States, and the change to the customer, with effect of 67,000 of the company’s 1 million.
Insurers are abandoning the ObamaCare individual insurance market, in large part because some of the expected healthy people enrolled, has created a snow ball effect of higher premiums and fewer participants.
The GOP-led Congress tries to revise the 2010 laws to the health care more affordable and to keep insurers in the market.
The Blue KC decision does not affect the purchased 2017 coverage for members under the plans on or before the 1. October 2013. Members will receive coverage through their employer are not affected.