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BlueCross BlueShield of Tennessee to retreat from 3 Tennessee regions

BlueCross BlueShieldof Tennessee Inc. will exit three Tennessee's regions in 2017.

The insurer will not offer Affordable Care Act plans on and offthe marketplace in the Memphis, Nashville and Knoxville regions, a move that isexpected to affect 100,000 customers.

"We have tried to make the ACA Marketplace model work forTennessee, but we believe there are too many uncertainties to continue participatingon a statewide level as we have before," the insurer said in a statement.

Individual/marketplace plans will continue to be offered in thefive other Tennessee regions.

The insurer said it suffered $500 million losses in the threeyears that it has participated in the ACA marketplace.

"Beyond closing the gap between rates and medical costs,we continue to have concerns about uncertainties with the ACA at the federal levelthat could lead to future losses," the insurer said.

The insurer said it could offer plans statewide in 2018 if conditionsimprove.