Blue Cross and Blue Shield of Minnesota, the
biggest player in the state with 103,000 individual market customers, is
the latest insurer to pull back from the state's ObamaCare exchange
after piling up $500 million in losses. The
hit to Minnesotans buying coverage on and off the exchange is just the
latest in a series problems for what ranks as among the least-stable
markets in the nation. In 2014, the dominant insurer in the marketplace,
PreferredOne, dropped out of the exchange. For 2016, Blue Cross and
Blue Shield hiked premiums by 49%. To top it off, marketplace
demographics went from bad to nearly the worst in the nation as the
relatively young and healthy shunned exchange coverage.
When they need to show "growth", they just raise prices....problem solved!
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