ACA insurers show signs of reversing trend and expanding offerings

Health insurers are finding success in ACA marketplaces this year and are planning to expand their offerings in many states, defying expert’s predictions (Source: “Defying predictions, ObamaCare insurers see boom times ahead,” The Hill, June 26, 2018).

Insurance startup Oscar Health filed to sell ObamaCare plans in Florida, Arizona and Michigan for the first time, and will enter new markets in Ohio, Tennessee and Texas.

 “We have finally reached the point where insurers are making money in the ACA marketplaces,” said Larry Levitt, a senior vice president at the Kaiser Family Foundation. 

In recent years, the number of insurance carriers in ACA markets across the country has steadily declined. Some of the country’s largest companies including United, Cigna and Humana pulled the majority of their plans from the exchanges. Insurance giant Aetna exited the exchanges entirely, citing massive losses and uncertainty over the future of the ACA.

While the new round of initial rate filings are only preliminary, there’s been no sign of pulling back this year.