(FREEBEACON) — BlueCross BlueShield announced it will not sell Obamacare coverage in Nashville, Memphis, and Knoxville, Tennessee in 2017, citing losses of $500 million.
“We have tried to make the Affordable Care Act marketplace model work for Tennessee, but we believe there are too many uncertainties to continue participating on a statewide level as we have before,” the company said.
“BlueCross committed early to the ACA marketplace and has been the only health insurer to offer coverage options in every region in the state since 2014,” it said. “And we have experienced losses approaching $500 million over the course of three years on ACA plans, which is unsustainable.”
Advertisement - story continues below