Thursday, October 31, 2024 | 02:57pm
NASHVILLE – The Tennessee Department of Commerce & Insurance (“TDCI”) reminds consumers who may be purchasing or changing their individual health coverage on the Federally Facilitated Marketplace (“FFM”) for 2025 that Open Enrollment runs Friday, November 1, 2024 – Monday, January 15, 2025.
The Department reminds Tennesseans who are purchasing their insurance coverage through the FFM to begin their review and planning as early as possible to avoid missing deadlines. Once the Open Enrollment period closes in January, consumers can only enroll in a health plan after certain qualifying life events occur.
- November 1, 2024: Open Enrollment starts — first day you can enroll in, renew, or change FFM plans.
- December 15, 2024: Last day to enroll in or change plans for coverage to start January 1.
- January 15, 2025: Open Enrollment ends — last day to enroll in or change Marketplace plans for the year with coverage starting February 1.
By visiting healthcare.gov, Tennesseans can learn more about individual ACA-compliant health insurance plans for each of Tennessee’s eight rating areas.
The following carrier rate changes have been reviewed and approved by TDCI:
| Company Name | Requested Rate Change | Rate Range |
|---|---|---|
| BlueCross BlueShield of Tennessee | -0.98% | -13.04% to 7.58% |
| Celtic Insurance Company | 2.30% | -2.92% to 5.41% |
| Cigna Health and Life Insurance Company | 2.99% | 0.35% to 6.85% |
| Oscar Insurance Company | 3.86% | -14.76% to 12.79% |
| UnitedHealthcare Insurance Company | -1.26% | -24.87% to 1.12% |
| Alliant Health Plans | New Market Entrant |
| Company Name | Requested Rate Change | Rate Range |
|---|---|---|
| BlueCross BlueShield of Tennessee | 9.70% | 0.00% to 19.69% |
| UnitedHealthcare Ins Co of River Valley | 10.89% | 8.43% to 14.91% |
| UnitedHealthcare Insurance Company | 11.22% | 9.20% to 16.85% |
All the rate approvals above comply with TCA § 56-5-103 – Ratemaking standards: rates shall not be excessive, inadequate or unfairly discriminatory.
Please note: All rates are subject to change based on requirements from the Centers for Medicare & Medicaid Services.
During Open Enrollment, Tennesseans may call 1-800-318-2596 or visit healthcare.gov for information regarding enrollment and to calculate applicable tax credits.
Before enrolling in a plan, the TDCI reminds consumers to remember the following tips:
- Carefully review plans when shopping on the FFM during Open Enrollment.
- Ask questions and contact the carriers about their plans.
- Research premiums, deductibles, copays, and cost-sharing along with reviewing each insurance carrier’s networks for their most accessible and/or preferred providers and hospitals.
- Consumers should contact their providers directly to ensure they are in-network with their health plan.
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