BlueCross BlueShield of Tennessee sent shock waves Monday across Tennessee with the company’s decision to exit the Obamacare exchange in Nashville, Memphis, and Knoxville, a move that highlights persistent volatility in the young health insurance marketplace.Three years into the Affordable Care Act exchange, the state’s largest insurer is grappling with hefty losses and ongoing uncertainty on the marketplace. BCBST is open to coming fully back into the market once uncertainties about policies and the membership wane.The insurer made “an extremely difficult but necessary decision” to leave the state’s three largest markets as it tries to manage its number of members to hit a break-even point after three years of losses, said Roy Vaughn, chief communications officer of BCBST.The insurer is projecting losses approaching $500 million by the end of 2016. BCBST is not alone, as many insurers have been saddled with uncertainty and significant losses in the federally run marketplace.
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