Corker: Tennesseeans Continue to See Double Digit Health Care Cost Increases

U.S. Senator Bob Corker (R-Tenn.) released the following statement today regarding reports that three of the companies offering insurance policies in the federal health care marketplace in Tennessee have requested to raise rates for their exchange plans in 2015:

“My heart goes out to the many families and business owners across the state coping with rising health care costs, and I’m hopeful the Senate might finally be allowed to debate ways to provide relief from the damaging effects of this law, including solutions to free up the marketplace so affordable plans that meet the actual needs of Tennesseans can openly and effectively compete for their business,” said Corker. “The president’s health care bill was sold to Tennesseans and the country as a way to bring down health care costs, yet it has done just the opposite as we continue to see double digit increases in the cost of plans.”

BlueCross BlueShield of Tennessee (BCBST) – the only health insurance provider to offer a policy in all 95 Volunteer State counties in 2014 – is requesting to raise rates by an average of 19 percent for its exchange plans in 2015. Cigna is requesting an average rate increase of 7.5 percent, and Humana has requested to raise rates by an average of 14.4 percent. During the health care law’s 2014 open enrollment period, 88 percent of Tennesseans chose a BCBST health insurance plan.

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