Weekly Health Insurance Industry Highlights
Catch up on healthcare news and gain insights from our own industry gurus.
United Expanding HIX Products
UnitedHealth Group said it would expand private health plan products on government exchanges under the Affordable Care Act “to as many as two dozen” states for next year, chief executive officer Stephen J. Hemsley said this morning.
The nation’s largest health insurance company, which raised its revenue forecast for this year by more than $1 billion to $130 billion thanks in part to strong growth in the “public and senior sector” said it will broaden its participation in public exchanges. FORBES | UNITEDHEALTH TO EXPAND ON OBAMACARE EXCHANGES IN 2015 ‘AND BEYOND’
2015 HIX Participants
Individual State Updates
Highmark Blue Cross Blue Shield is seeking average premium increases of 5 percent for individuals who bought insurance through Delaware’s exchange. Exact premium changes will depend on factors including which plan is selected. Highmark says its premium increase reflects an aging population, prevalence of chronic illnesses and higher costs for new medicines and procedures.
Aetna filed rate requests for preferred provider and new HMO plans. Aetna says some 2,000 people enrolled in PPO plans could see their premiums decrease slightly. The average monthly rate for the HMO option is about $12 cheaper than the average PPO rate. WBOC-TV 16 | HIGHER HEALTH CARE COSTS COULD COME TO DELAWARE
Blue Cross Blue Shield of Louisiana, the state’s largest provider, is proposing rate increases of between 18.3 percent and 19.7 percent for policyholders in its Blue Saver, Blue Max and its Multi-State individual health plans. The plans cover 52,638 people. The insurer said rates are not increasing for policyholders in the metro markets of New Orleans, Baton Rouge and Shreveport who signed up for plans that limits health coverage to providers in a specified network of care givers.
The 4,947 people who signed up with Humana Louisiana face a hike of 15.7 percent, while the 966 insured residents with Time Insurance Company face a hike of 24 percent for its Affordable Care Act compliant policy, according to the filings made public this week.
Over 100,000 Louisianans signed up for coverage under the Affordable Care Act. Only insurers proposing increases over 10 percent were required to file their proposed rates with the State Insurance Department.
NOLA.COM | TIMES-PICAYUNE | SOME INSURANCE CARRIERS LOOKING FOR DOUBLE-DIGIT INCREASES FOR AFFORDABLE CARE ACT POLICIES