Earlier this month, BlueCross BlueShield (BCBST) of Tennessee announced that 66,000 policyholders would be losing their current health coverage on the policy’s anniversary date due to the new federal guidelines made under the Affordable Care Act.
In a press conference from this past Thursday, President Obama stated that companies can continue providing their policy coverage that does not comply with the new healthcare requirements through 2014.
On Friday, BlueCross BlueShield of Tennessee released a statement reading:
“At BlueCross, we’ve always believed people should be able to choose the plan they think best meets their needs, so we support this effort to let our individual members and small business customers keep their existing coverage. To make this change as quickly as possible, we’ll need to work closely with our state regulators to update our policies and review rates to keep these plans available to existing members and small groups.”
A final decision to allow insurers to continue to offer plans that don’t comply under the new healthcare reform law is expected by the state early this week. We’ll keep you updated of any Plan Extensions.