California’s Obamacare marketplace this enrollment season analyzed the greatest 4 insurers lose a chunk of their combined market share to smaller competitors, as customers appeared sensitive to cost differences for health coverage.
Previous year on the Covered California exchange, which sells private Obamacare health insurance policies, 4 major insurers captured nearly 95% of all sign-ups by consumers.
But in the recently summarized 3rd Obamacare enrollment season, those 4 carriers ended up with 90% of sign-ups, Covered California disclosed on the day of Wednesday.
And the big 4 garnered a lower share of new consumers — 83% of the newbies, an 11% point decrease from last year, authorities claimed.
Data also indicated how some insurers — big and small — that had lower premium cost hikes than competitors observed a marked uptick in sign-ups relative to costlier health policies.
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