As the state of Minnesota ramps up its efforts to design a public health insurance exchange by 2013, the private version of that concept is gaining traction among Minnesota employers who are seeking ways to manage rising costs of healthcare.
Minnesota-based insurance provider Medica announced Wednesday as of the beginning of the year, 22 Minnesota employers had enrolled their 10,267 employees in the company’s My Plan by Medica health insurance exchange. Those 22 employers were those who directly approached Medica to use the health plans marketplace for their workers.An additional 18 companies covering 1,134 employees bought My Plan by Medica coverage through Doherty Employer Services, which offers its business customers Medica’s private health insurance exchange option.
The original My Plan by Medica was introduced six months ago and offers members a choice of 20 health insurance plans. Medica is now expanding the offering by launching five new packages. My Plan by Medica is also being introduced in some Wisconsin markets that border Minnesota.
All of the above is good news for Minnesota health IT startup Bloom Health whose technology platform powers Medica’s health insurance exchange. Bloom receives a commission from insurers like Medica and Blue Cross Blue Shield of Michigan, which has created the Glidepath health insurance exchange for its customer.
Bloom Health intends to create a national private insurance exchange. So far it has had no major trouble in getting the attention of insurers.
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