Humana won’t be a part of Utah health insurance on the individual marketplace, but professional says that they are not too concerned about the proposed loss.
“Humana is not a big player,” stated Jason Stevenson, Utah Health Policy Project’s education and communications director. “They did not actually do the marketplace very well.”
Without the Humana, there will be 3 carriers on the exchange in Utah next year: University of Utah Health Plans, SelectHealth, and Molina.
“We really strive hard to provide affordable, high-quality and persuasive individual insurance products, but several persistent problems in the individual insurance market hinder our capability to do so,” states Marina Renneke, a Humana spokeswoman, in an email on the day of Thursday.
The exit of Humana follows the collapse of Arches Health Plan previous year. Utah health insurance providers yet are waiting for over $32 million in outstanding claims, stated Steve Gooch, Utah Insurance Department spokesman.
The Affordable Care Act made online insurance marketplaces that permit clients to find the best plan to fit their requirements by comparing costs and networks. They also can be eligible for federal tax credits that decrease the overall price of coverage.
Right now, Humana covers lesser than 10,000 of almost 164,000 Utahns who bought insurance on the exchange.
In comparison, Stevenson stated, SelectHealth covered upward of 100,000.
Furthermore, Gooch claimed, Humana was available merely in Salt Lake and Davis counties. People in those 2 counties now will be down to 3 companies to select from, but Gooch stated Humana’s withdrawal will not affect the twenty counties that already had merely one carrier option.
Renneke claimed that Humana already notified its Utah members that their “individual major medical insurance policies” will not be available starting on the day of Jan. 1.
“Humana will sustain to work closely with the present and future administrations, as well as state governments, to deal the persistent issues confronting the individual insurance market and develop solutions that motivate all individuals to gain and maintain coverage,” Renneke said. “In that way, individuals without access to employer and government-offered coverage will have sustainable approach to meaningful coverage options in the future.”
The 3 remaining companies on the exchange all have filed proposed rate increases with the department: SelectHealth at 30.1%, University of Utah at 4.5% and Molina at 33.8%. The department will consider, and potentially approve, those amount increases in the coming months.
On the day of Wednesday, the U.S. Department of Health and Human Services issued a report claiming that about 80% Utahns of Utah Health Insurance who bought insurance on healthcare.gov could get a policy that charges less than $75 per month next year — even if entire marketplace health insurance premium rates experience a double-digit increase.
A Molina representative stated on the day of Thursday that the company is expanding into Box Elder County in the year of 2017. University of Utah Health Plans didn’t respond to an appeal for comment.
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