Calif.’s Three Largest Health Insurers Report Profits In Marketplace Business
The companies are among a select few yet to make money on this business, the Los Angeles Times reports. Also, health marketplace news reports from New Hampshire and Connecticut.
Los Angeles Times:
California's 3 Largest Health Insurers Among Few To Show Obamacare Profit In 2014
California's biggest health insurers are among a select few to show a profit selling Obamacare policies. In the first year of the massive coverage expansion, California's three largest health insurers bucked the national trend of heavy losses and accounted for half of the gains reported under the Affordable Care Act in 2014. (Terhune, 12/9)
New Hampshire Public Radio:
Citing Costs, N.H. Insurer Drops Out of Federal Exchange Early This Year
One of the five insurance companies on the federal health exchange in New Hampshire is unexpectedly backing out early this year. The CEO of Maine-based co-op Community Health Options says costs have simply gotten too high for them to continue. Under the Affordable Care Act, consumers can buy subsidized health insurance on the online federal marketplace. But those consumers tend to be the sickest, so they've got the highest healthcare costs. And CEO Kevin Lewis says that's pushing his company out of the individual market. (Rodolico, 12/9)
Modern Healthcare:
Maine Co-Op Cuts Off Individual Enrollment
Community Health Options, a not-for-profit co-op insurance company based in Maine that also sells health plans in New Hampshire, will limit individual enrollments later this month because of “higher-than-expected claims costs.” ... The decision to halt enrollment early will not affect current members, and Community Health Options still plans on pursuing small employers into next year. (Herman, 12/9)
The Connecticut Mirror:
UnitedHealthcare To Stop Paying Commissions For Obamacare Exchange Plans
UnitedHealthcare plans to stop paying commissions for insurance policies offered through exchanges beginning Jan. 1, a move brokers say signals the company’s retreat from Obamacare business. (Levin Becker, 12/9)
