Five individual health insurance companies, including two of the largest in the country, have chosen to stop selling their policies in Indiana, leading the Indiana Department of Insurance to ask that certain elements of the reform law of 2010 be phased in. The third and fifth largest health insurance companies in the United States, Aetna Inc., from Hartford, and Cigna Corp., from Philadelphia, have decided that they will no longer be taking part in the market for individual health insurance in Indiana. Moreover, American Community Mutual Insurance Co., from Michigan,…
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Aetna leaves Indiana individual policy market
Aetna, Inc., the third-largest health insurance provider in the U.S., has announced that it will be pulling out of the individual policy market in Indiana. The company is the latest in a wave of insurers that have been fleeing the Indiana market recently. The exodus is due, in part, to the waning competition in the state thanks to health insurance exchanges. Exchanges promise to bring affordable options to consumers, often at a price that insurers are unwilling or unable to match. The insurer notified the Indiana Department of Insurance in…
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