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Blue Cross of Alabama predicts $135 million loss in 2015, mostly due to Obamacare

Matt Boster

Viewed: 2623

Posted by: Matt Boster
Date: Feb 03 2016 7:18 AM

Executives at Blue Cross Blue Shield of Alabama are predicting losses of $135 million in 2015, mostly due to the costs of insuring patients who gained coverage under Obamacare.


The insurance company has already tallied losses of $109 million through the end of October. The final results will be available at the beginning of March, according to a statement released by the company.


"Beginning in 2014, the ACA eliminated health underwriting and waiting periods for pre-existing conditions allowing individuals to buy healthcare coverage regardless of their health condition," read a statement from spokeswoman Koko Mackin. "Company data indicates that many of our new individual ACA customers have used an extensive amount of medical services, which is causing total claims paid and their related operating expenses to exceed premiums."


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