TDCI Approves Health Insurance Carriers’ Rates on the Federally Facilitated Marketplace for 2021


The Tennessee Department of Commerce and Insurance (TDCI) announces the approval of proposed insurance rates requested by six health insurance carriers offering coverage on the Federally Facilitated Marketplace (FFM) in 2021.

“Heading into 2021, Tennessee’s hard-working and resilient families in 81 of the state’s 95 counties will have more than one choice of health insurance carriers on the Federally Facilitated Marketplace,” said TDCI Commissioner Hodgen Mainda. “Additionally, the Department has approved premium rate decreases from market participants for just the third time in the ACA marketplace era. Increased competition and lower prices perfectly align with Governor Lee’s vision to help support Tennessee consumers.”

Though decreases bring down premium prices in rating areas with more competition, an individual’s maximum out-of-pocket premium costs depend on several factors, including the amount of federal funding for premium assistance (subsidies) available in the state. Consumers should contact licensed insurance agents or company representatives in considering 2021 plan coverage.

“We urge consumers to carefully review plans when shopping on the exchange during Open Enrollment. While it may be tempting to enroll in a plan with the lowest premium, consumers should also take into account other potential costs such as co-pays and deductibles,” said TDCI Assistant Commissioner Rachel Jrade-Rice. “Ask questions and contact the carriers about their plans. Additionally, consumers should conduct research on premiums, deductibles, co-pays and cost-sharing along with reviewing each insurance carrier’s networks for their most accessible and/or preferred providers and hospitals. To avoid unexpected or ‘balance’ bills, always visit in-network providers.”
The carriers and rates sought on the FFM for 2021 are as follows:

Individual Market

BlueCross BlueShield of Tennessee. Statewide coverage. Proposed 2021 rate request seeking an average increase of 9.8%.

Bright Health. Continuing coverage in Knoxville, Memphis and Nashville areas. Proposed 2021 rate request seeking an average increase of 3.01%.

Celtic/Ambetter Insurance. Proposed coverage expansion into Jackson and Tri-Cities areas with continuing coverage in Nashville, Knoxville, Chattanooga and Memphis areas as well as cities in West Middle Tennessee such as Columbia, Dickson and Lawrenceburg in Rating Area 8. Proposed 2021 rate request seeks an average decrease of 2.5%.

Cigna. Continuing coverage in Chattanooga, Jackson, Knoxville, Nashville, Memphis and Tri-Cities. Proposed 2021 rate request seeking a premium decrease of 6.1%.

Oscar Health. Continuing coverage in Nashville and Memphis. Proposed 2021 request seeking an average increase of 9.9%.

UnitedHealthcare. New entrant with proposed coverage in the Chattanooga, Jackson, Memphis and Nashville areas as well as cities in West Middle Tennessee such as Columbia, Dickson and Lawrenceburg in Rating Area 8.

The Centers for Medicare and Medicaid Services (CMS) must now review Tennessee’s approvals. Companies have until September 23, 2020 to sign final agreements with CMS to participate in the 2021 marketplace. Open Enrollment for 2021 begins November 1, 2020 and lasts through December 15, 2020.

View the 2021 Insurance Carrier Map here.

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