TDCI Approves Carriers 2020 Rates

Aug 29, 2019 at 06:36 am by admin


he Tennessee Department of Commerce and Insurance (TDCI) announces the approval of insurance rates requested by the five carriers offering coverage on the Federally Facilitated Marketplace (FFM) in 2020.

"The approved rate filing requests for 2020 benefit Tennessee's working families by offering them an increased number of coverage choices and a tighter range of prices," said TDCI Interim Commissioner Carter Lawrence. "Three of the five insurance carriers are expanding their coverage areas. Additionally, the Department has approved premium rate decreases from market participants for just the second time in the ACA marketplace era. The increased insurance choices and lower prices perfectly fit Governor Lee's campaign promise to help support Tennessee families when it comes to more insurance choices and reduced costs."

The carriers and rates sought on the FFM for 2020 are as follows:

Individual Market

Though decreases bring down premium prices in rating areas with more competition, an individual's 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 2020 plan coverage.

The Centers for Medicare and Medicaid Services (CMS) must now review Tennessee's approvals. Companies have until Sept. 24, 2019 to sign final agreements with CMS to participate in the 2020 marketplace.

Open Enrollment for 2020 begins Nov. 1, 2019 and lasts through Dec. 15, 2019.

Sections: CANNON COMMUNITY