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“Minnesota’s largest health insurer, Blue Cross and Blue Shield of Minnesota has decided to stop selling health plans to individuals and families in Minnesota starting next year. The insurer explained extraordinary financial losses drove the decision. Based on current medical claim trends, Blue Cross is projecting a total loss of more than $500 million in the individual [health plan] segment over three years,” BCBSM said in a statement.”
“Blue Cross and Blue Shield says the change will affect about, “103,000 Minnesotans [who] have purchased Blue Cross coverage on their own, through an agent or broker, or on MNsure. In response Gov. Mark Dayton highlighted gains in enrolling more Minnesotans in health insurance plans since the implementation of the Affordable Care Act. He also acknowledged the BCBSM departure reflects the instability in the market for individual and family coverage.”
Read the full article: Blue Cross delivers major blow to health reform in Minnesota
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