Health insurers set to expand offerings under the ACA
Insurers are expanding their Affordable Care Act plan offerings for next year, with the once-troubled business now generating profits, even as the overall individual insurance market has shrunk.
Oscar Insurance Corp. is the latest to announce its expected growth for 2020, adding six new states, including Pennsylvania and Georgia, to its current roster of nine. Insurers including Cigna Corp., Bright Health Inc., Molina Healthcare Inc. and Centene Corp., the biggest seller of ACA plans, also plan larger footprints next year. Anthem Inc. is expanding in at least two of its states, California and Virginia.
The insurers’ moves reflect the business’ improved finances after sharp rate hikes in previous years helped revenues catch up to claims costs. Premium increases for 2020 so far appear likely to be moderate in many markets, after rates were relatively flat or even down this year, analysts and insurers said.
“The market is now clearly stabilizing,” said Mario Schlosser, chief executive of Oscar. Oscar has proposed premium decreases in three states for next year.
https://www.msn.com/en-us/money/healthcare/health-insurers-set-to-expand-offerings-under-the-aca/ar-AAGaspJ?li=BBnbfcN&pfr=1
We need to replace Obamacare with something awesome - Donny Dotard