Northern Kansas is almost set to lose another insurer – PB/TK
The future of Obamacare suffers another huge blow as the worst-case scenario looms in one state – By Bob Bryan / May 24 2017
Blue Cross Blue Shield of Kansas City announced Wednesday that the company is pulling out of the Affordable Care Act’s exchanges in the states of Missouri and Kansas, dealing a huge blow to that market and sending a worrying signal about the future of the law.
The insurer, also known as Blue KC, cited two reasons for its exit: losses sustained since they entered the ACA markets in 2014 and the uncertain future of healthcare policy.
“Like many other health insurers across the country, we have been faced with challenges in this market,”Danette Wilson, CEO of Blue KC, said in a statement.“Through 2016, we have lost more than $100 million. This is unsustainable for our company. We have a responsibility to our members and the greater community to remain stable and secure, and the uncertain direction of this market is a barrier to our continued participation.”
Cynthia Cox, associate director at the Kaiser Family Foundation, a nonpartisan health policy think tank, the move could leave many areas of the state with no option on the Obamacare exchanges.
“BCBS of KC is the only exchange insurer in much of western Missouri,” Cox tweeted. “Their exit could leave almost 25 counties without coverage.”
Continue to businessinsider.com article: http://www.businessinsider.com/obamacare-exchange-missouri-blue-cross-blue-shield-kansas-city-2017-5
