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Blue Cross Blue Shield withdrawing from 3 major Tennessee markets — 112k expected to lose coverage: 5 things to know

Blue Cross Blue Shield is withdrawing from the Nashville, Memphis and Knoxville ACA exchanges, The Tennessean reports.

Here's what you should know.

1. Nearly 112,000 will lose coverage from the decision.

2. BCBS is the state's largest insurer. It is projecting losses of nearly $500 million in 2016. The insurer will still sell plans in 66 of the state's 95 counties.

3. BCBS is open to returning to the market if uncertainties about policies and membership are addressed.

4. Earlier in the month, Tennessee officials approved a 62 percent rate increase for the insurer.

Chief Communications Officer Ray Vaughn said although the state addressed uncertainties on the local level, the uncertainties of the federal government were too difficult to project.

5. Seventy-three of the state's counties will have a single insurer available through the exchanges.

More coding, billing and collections news:
Blue Cross Blue Shield of Nebraska pulling out of ACA exchanges: 4 takeaways
Insurer New West Health Services to shut down: 3 things to know
Co-op failures adds to speculation about future of ACA: 4 things to know

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