Small Number Of ‘Young Invincibles’ Hurts Pricing For Health Insurance Pools
Despite recruitment efforts, people in the coveted 18 to 34 age range make up about 28 percent of the marketplace members. Insurers hoped for 40 percent to help create a market that was more stable. Also, two articles look at what's happening when some big names leave the health law marketplaces.
What, Me Buy Insurance?
Last month, UnitedHealth began giving notice it will exit most of the marketplaces .... Although some of UnitedHealth's wounds were self-inflicted, other insurers are also struggling to manage their high-cost exchange population. Many are boosting premiums significantly. Experts predict the average rates for next year's ACA plans, which insurers are proposing now, could rise by double digits. ... The most significant factor behind next year's sharply rising prices, experts say, is that millions of “young invincibles,” who represent a large segment of the uninsured pool, have so far not signed up for Obamacare. (Herman, 5/14)
Insurers Dive Into ACA'S Exchanges As Big Names Exit
UnitedHealth Group and Humana are bailing on multiple exchanges that sell individual health insurance, and more than half of the not-for-profit co-ops have closed up shop. But other companies are willingly, and quietly, taking their place. ... While exits have garnered more attention, healthcare experts say the addition and expansion of other insurers shows how the marketplaces are still in their formative years. (Herman, 5/16)
Kaiser Health News:
Insurers Quitting Health Law Exchanges May Still Sell Plans To Individuals
An insurer’s decision to stop selling plans on the marketplace doesn’t necessarily mean it will stop selling individual coverage in that state altogether. This year, for example, Aetna stopped selling individual plans on the marketplaces in Kansas, Utah and the District of Columbia. But it continues to sell individual policies outside the marketplaces in Kansas and Utah, said T.J. Crawford, a spokesperson for Aetna. (Andrews, 5/17)