PHOENIX, June 30, 2016 /PRNewswire-USNewswire/ — Blue Cross Blue Shield of Arizona (BCBSAZ) announced today its Affordable Care Act (ACA) product line for 2017 coverage. The state’s largest not-for-profit insurance company will offer up to five different individual and family plans in Pima County along with the rural and underserved areas of the state.
BCBSAZ will sell individual plans through the Health Insurance Marketplace (also known as the Exchange) for 13 of Arizona’s 15 counties, pending regulatory approval and hospital participation. ACA plans will not be available in Maricopa and Pinal counties.
“As a local company, we couldn’t overlook that several counties would have no options or very limited access if we didn’t find a way to stay in the market. Yet, we had to strike a balance between how we serve the market and the losses these plans incurred. We lost $185M on individual ACA plans in just two years,” said Rich Boals, president and CEO. “After months of working through scenarios, we believe we have found a mix of plan types and benefits changes that will make these ACA plans sustainable for at least another year.”
Once regulators approve the plans, BCBSAZ members will receive information about their benefits and how to re-enroll or how to select a different plan. Members are encouraged to pay close attention to these communications so they have health insurance in 2017. Any changes to these individual plans do not affect group, Medicare or federal coverage.
BCBSAZ will continue discussions with policymakers on long-term fixes to the ACA. “Arizonans need an individual marketplace that is more stable and predictable from year to year,” Boals continued. “Our customers are relying on us to help find a solution.”
SOURCE Blue Cross Blue Shield of Arizona