On Wednesday, Blue Cross and Blue Shield of Kansas City announced that the company has decided to pull out of ACA. The company would not offer or renew individual Affordable Care Act (ACA) plans in the 32-county service area in Kansas and Missouri for the year 2018. This verdict would affect the Blue Cross and Blue Shield of Kansas City members with both on- and off- exchange individual plans. However, it would not impact the individual plans which were purchased on or prior to October 1, 2013.
Danette Wilson, President, and CEO Of Blue Cross and Blue Shield of Kansas City Said,
“Since 2014, we’ve expended significant resources to offer individual ACA plans to increase access to quality healthcare coverage for the Kansas City community,” he added “Like many other health insurers across the country, we have been faced with challenges in this market. 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.”
Blue Cross And Blue Shield Of Kansas City Pulls Out Of ACA- Things To Know
1. Blue Cross And Blue Shield Of Kansas City has over 1 million members, and this decision would affect approximately 67,000 people.
2. The decision will not impact the coverage for the year 2017. Also, it would not affect those members covered under one of its “grandfathered” or “grandmothered” plans. These plans were purchased on or before October 1, 2013.
3. Members who receive coverage through their employers, as well as those who purchased a Medicare Advantage, Medicare Supplement, short-term or student health plan from Blue KC, would not be affected.
4. Danette Wilson said,
“This decision is necessary at this time, but we’ll continue to work with federal and state legislators to identify solutions that will stabilize the individual market and bring costs down for our members, the community, and Blue KC.”
To know more about Blue Cross and Blue Shield of Kansas City exit from ACA click here.
Date: 26 May, 2017