Tulsa-based Blue Cross Blue Shield of Oklahoma will be the only insurer offering on exchange individual health plans for 2017. It submitted rate increases to CMS ranging from 58 percent to 96 percent for both on and off exchange plans. CMS will determine if the rates are practical.
Insurance Commissioner John Doak said in a prepared statement the “jaw-dropping increases make it clear that Oklahoma’s exchange is on life support.” However, Mr. Doak said if rates are not raised, insurers will face substantial losses.
BCBS of Oklahoma provides coverage for 95 percent of Oklahoma’s federal exchange enrollees. Minnetonka, Minn.-based UnitedHealthcare — which will exit Oklahoma’s 2017 exchange — held the other 5 percent.
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