Insurers see promise in exchange marketplaces throughout the United States
Amidst concerns that health insurance exchanges in the United States may be bad marketplaces for insurers, Aetna and Anthem have begun working to reassure investors that this is not the case. Recently, many insurers have been reporting losses due to their participation in insurance exchanges. These losses have lead UnitedHealth, the country’s largest health insurance provider, to exit from all exchanges throughout the country. This has caused a great deal of worry for those receiving coverage through exchanges as well as insurers providing this coverage.
Aetna and Anthem see results from insurance exchanges that align with their predictions
Both Aetna and Anthem have noted that their individual businesses, including the policies that they sell through insurance exchanges, have performed in line with their predictions. The insurers see the exchanges are stable and valuable marketplaces. These exchanges were established through the Affordable Care Act and they have successfully made health insurance coverage more available to consumers throughout the country. Millions of people have turned to exchanges to find coverage, and insurers have found that the exchanges have become an effective way to engage consumers.
Insurers are raising premiums to overcome financial losses
While Anthem and Aetna see exchanges as worthwhile marketplaces, they are also raising premiums on the policies they offer through the exchanges. While many people have been able to acquire coverage, they are also using this coverage more frequently. This has resulted in some financial losses for insurers due to higher claims payouts, which has also lead to higher premiums as insurers attempt to recover from these losses.
Companies remain willing to participate in health insurance exchanges throughout the country
Though some insurers have expressed concern over the viability of health insurance exchanges, most large companies remain committed to participating in these marketplaces. The Department of Health and Human Services expects that many people will be renewing their policies through exchanges during the latest open enrollment period. The agency also predicts that some 10 million people will have health insurance coverage provided through exchanges next year.