Morning Briefing
Summaries of health policy coverage from major news organizations
Facing Large Losses, Blue Cross Blue Shield Retreats From Minnesota Marketplace
Minnesota Public Radio: Buying Health Coverage Outside Work? Get Used To Less Choice
Blue Cross this week said it was on track to lose $500 million on individual coverage over three years. That cash hemorrhage was the main reason the company announced it was pulling back on nearly all its offerings for people who buy insurance on their own, outside of work. The decision means some 100,000 Minnesotans will be looking for new health insurance plans for next year. (Moylan, 6/24)
Star-Tribune: Blue Cross Says Individual Market Plans Will Offer Limited Choices Next Year
In a sign of continuing tumult in the health insurance industry, the state’s largest insurer said Thursday it will no longer offer its traditional suite of flexible and broad-reaching policies for those consumers who don’t get coverage through the workplace. Instead, Blue Cross and Blue Shield of Minnesota will sell only health plans with a narrow network, which limits patient coverage to specific doctors, hospitals and prescription drug benefits. (Crosby, 6/24)
The Associated Press: Blue Cross Eyes Exit From Minnesota Individual Market
Gov. Mark Dayton said his administration will help enrollees on lapsing plans find new coverage for 2017, cited the strides Minnesota has made in lowering the number of uninsured residents in recent years and stressed that the company’s departure “will not imperil that progress.” (Potter, 6/24)
Kaiser Health News: Minnesota's Largest Health Insurer To Drop Individual Plans
Blue Cross and Blue Shield of Minnesota will retreat from the sale of health plans to individuals and families in the state starting next year. The insurer, Minnesota's largest, said extraordinary financial losses drove the decision. "Based on current medical claim trends, Blue Cross is projecting a total loss of more than $500 million in the individual [health plan] segment over three years," the insurer said in an emailed statement. The Blues reported a loss of $265 million on insurance operations from individual market plans in 2015. The insurer said claims for medical care far exceeded premium revenue for those plans. (Zdechlik, 5/27)
