And Then There Was One
As we continue to watch the (increasingly *not* slow-mo) implosion of ObamaCare, there’s news, and then there’s news that’s kind of under the radar.
First the news (about which I’m sure mist of our readers already know):
Wellmark is signalling that they’ll follow Aetna out of the Hawkeye State:
Which means that, in a few months, it’s likely that Iowa’s individual market will be down to exactly one carrier: Medica.
And just who is Medica?
Well, they’re a regional carrier “offering health plans in Iowa, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin.” Currently, they insure just shy of two million folks, but that includes all 6 states, and individual, group ad Medicare plans.
Which raises some interesting questions:
Several months ago, we discussed “capacity;” that is, how much risk (how many clients) a given carrier is actually able to take on at any given time. The issue is no less critical here: is Medica going to be able to absorb all those new insureds?
And our friend Chad N offers this observation:
“Now Aetna is exiting Iowa’s Obamacare market. I believe that leaves only Medica who has been very non-committal about continuing (although I’d guess they will ask for a ridiculous premium increase and corner the market since HHS and the Iowa Insurance Division will have no other choice).“
Rock, meet hard place.
#ACAWinning!
Source: http://insureblog.blogspot.com/2017/04/and-then-there-was-one.html
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