BCBS of Texas Requests Higher Obamacare Rates
By Admin | July 11, 2016
Richardson-based Blue Cross Blue Shield of Texas has reported losses of $592 million in 2015, and $416 million in 2014. Its parent company, Health Care Services Corporation out of Chicago, Illinois, has also reported losing over $2 billion on “Obamacare” plans in Texas, Oklahoma, New Mexico, Illinois, and Montana.
They allege that customers are using their health insurance more than anticipated, therefore creating more costs than revenue for the insurance provider.
Blue Cross Blue Shield of Texas was already under fire from consumers for eliminating their PPO plans from the marketplace while enacting 20 percent rate hikes at the end of 2015.
Their current request of the nearly 60 percent increase has yet to be approved or denied.