BCBS of Kansas City departing ACA exchanges, leaving 25 counties with no insurer
Twenty five counties in Missouri are at risk of having no insurer offering coverage through the Affordable Care Act exchanges in 2018 after Blue Cross and Blue Shield of Kansas City announced it was pulling out of the market in 2018.
According to the Kansas City Star, the decision will affect about 67,000 customers overall, spread across 30 counties in total, including two in Kansas. The insurer’s president and CEO, Danette Wilson, said it had no choice after losing more than $100 million on exchange plans since 2014.
“This is unsustainable for our company,” Wilson said. “We have a responsibility to our (customers) and the greater community to remain stable and secure, and the uncertain direction of this market is a barrier to our continued participation.”
The company did report a net income of $63 million in 2016. Its individual market plans did record a medical-loss ratio of 98.7 percent last year, but the company said operating costs erased any chance of profitability on exchange coverage.
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John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.