Regence BlueCross BlueShield is dropping its provider network of doctors and hospitals for 20,000 individual members in the Portland area.
They will potentially have to change physicians, switch insurers, or pay more.
The insurer recently sent a letter to members telling them that it is dropping its wide-ranging provider network in Clackamas, Multnomah, Washington and Yamhill counties and contracting with about only 1,100 physicians aligned with Tuality Healthcare and Adventist Health.
The change reflects a growing trend among health insurers to nip and tuck at escalating costs to rein in premium hikes. For Regence, representatives say, the move is necessary to allow it to remain competitive in the Portland area. The change follows years of declining membership and financial losses in Oregon for Regence, Oregon's largest insurer in the private health insurance market.
Read more at OregonLive.com.