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Aetna, UnitedHealth and Cigna Bail On Covered California Exchange!

On the eve of the announcement of the tentative plans and rates for the Covered California Health Benefits Exchange,  LA Times has leaked three non-domestic carriers will NOT provide health plans to individuals & families in Covered California.

Aetna, Cigna and United Healthcare have all declined to participate in Covered California which opens to new enrollments on October 1, 2013.

That will leave the three major carriers who currently control 87% of the individual and family market in California--Anthem Blue Cross, Blue Shield of California and Kaiser.  I expect other player such as Health Net to be involved as well as a new Sutter HMO co-op plan.

We will know more details tomorrow afternoon once the Exchange webcast is over.

Those who currently have health plans with Aetna or Cigna (UHC does not sell individual & family plans in California) and wish to enter the exchange will have to discontinue their coverage with those carriers and move to a new insurance company.

While the non-exchange market may contain these carriers, be aware that there is legislation in committee in Sacramento that seeks to bar the sale of any health plan outside of the exchange that is not a mirror of a plan sold inside of the exchange.  If this passes, those three carriers would be effectively barred from selling ANY health insurance to individuals & families in California.

LA Times Article

Dave
www.davefluker.com

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