Blue Cross Submits Plans to Comply with New Requirements
BOISE, Idaho (AP) — Blue Cross of Idaho submitted to Idaho insurance regulators a set of health insurance plans that it hopes to sell under Gov. Butch Otter's executive order.
Blue Cross submitted its five plans on Tuesday after the executive order required Idaho insurers to create "state-based" health plans that do not comply with the Affordable Care Act.
Blue Cross is the first to file its plans, which could be approved to go to market as early as next month, the Idaho Statesman reported .
"We're excited that they've filed," said Dean Cameron, director of the Idaho Department of Insurance. "Obviously, we're going to review their application carefully and review their rate carefully to make sure they meet our state guidelines, but we're excited for Idaho consumers, because now they'll be given a choice."
Blue Cross estimates that pool of possible customers is 110,000 strong — uninsured middle-class Idahoans.
The new plans are similar to what Blue Cross is selling on Idaho's health insurance exchange, Your Health Idaho.
Deductibles range from $2,000 to $10,000. They cover all of the "essential health benefits" that the Affordable Care Act requires, Blue Cross officials said.
The plans also cover preventive care with no copay.
The plans have a $1 million limit on claims for the year.
There's a big difference in monthly premiums, based on the example Blue Cross provided to the Statesman.
For the $4,000 deductible plan, premiums would range from $89.91 to $242.79 for a 21-year-old, compared with $237.60 for a comparable plan on the exchange.
Premiums for a family of four — ages 8, 12, 30 and 39 — range from $435.58 to $1,176.24, compared with $933.05 for a comparable exchange plan.
Cameron said he thinks the new plans will help stabilize premiums overall.