After exiting most of the state ACA exchanges , UnitedHealthcare is giving them a second look. The insurer said it will offer plans on Maryland’s insurance marketplace next year.
Maryland Governor Larry Hogan announced the news on Tuesday, saying it would add another option in addition to the two insurers currently offering plans through the state’s marketplace: CareFirst BlueCross BlueShield and Kaiser Permanente.
Transforming Patient Care: The Role of AI-Powered Assistants
The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes.
“UnitedHealthcare intends to offer individual plans in 2021 that provide strong coverage options for those shopping on Maryland Health Connection,” UnitedHealthcare Senior Vice President Krista Nelson said in a news release.
UnitedHealthcare had previously hinted that it was taking a second look at marketplace plans. During an April earnings call, UnitedHealth Group CEO David Wichmann said the company had given the idea of reentering certain state exchanges “considerable thought.”
The insurer currently offers individual plans in just three states: Massachusetts, Nevada and New York. It had previously offered plans in several states, including Maryland, but exited most of them in 2017. Now, UnitedHealthcare is looking at reentering some markets, as the ACA exchanges have become more profitable and stable in recent years.
“We’re still in the process of going through market by market, evaluating the relative efficiency of our network, our ability to compete, and states where we would like to extend Medicaid,” UnitedHealthcare CEO Dirk McMahon told investors.
Improving the Healthcare Financial Experience to Help Care Flow
Zelis CEO Amanda Eisel shares her perspective on how the company is solving the problems of a fragmented health financial system to benefit all.
As unemployment rates rise during the pandemic, more people are expected to get coverage through Medicaid or marketplace plans. According to a report by Health Management Associates, between 1 million and 2 million Americans are expected to get coverage through marketplace plans as a result.
States that have opened a special enrollment period for their ACA exchanges — which would allow people who were previously uninsured to enroll in insurance — have seen a significant number of people seeking coverage as a result of the pandemic.
For example, in Maryland, nearly 29,000 people have gotten coverage during its special enrollment period so far, which is set to continue through June 15. By comparison, the state saw a total of 159,000 people enroll in marketplace plans during the 2020 open enrollment period in January.
Photo credit: Minerva Studio, Getty Images