Post by Logan on May 3, 2016 21:43:04 GMT -6
JUNEAU — One of the two companies offering individual health insurance policies for Alaskans announced Monday that it will not be participating in that market next year.
The announcement by Moda Health would leave Premera Blue Cross Blue Shield as the only company providing individual health insurance policies in the state as of Jan. 1.
Moda said current individual health insurance policyholders and those who enroll in such plans in 2016 in Alaska will be covered through Dec. 31. The company has about 14,000 individual members in Alaska, it said.
High claim costs and a relatively small market have been ongoing concerns in Alaska.
The state approved average rate increases of close to 40 percent for each of the companies for 2016. That was on top of double-digit rate increases for 2015.
Read more: juneauempire.com/state/2016-05-02/moda-out-alaska-2017
The announcement by Moda Health would leave Premera Blue Cross Blue Shield as the only company providing individual health insurance policies in the state as of Jan. 1.
Moda said current individual health insurance policyholders and those who enroll in such plans in 2016 in Alaska will be covered through Dec. 31. The company has about 14,000 individual members in Alaska, it said.
High claim costs and a relatively small market have been ongoing concerns in Alaska.
The state approved average rate increases of close to 40 percent for each of the companies for 2016. That was on top of double-digit rate increases for 2015.
Read more: juneauempire.com/state/2016-05-02/moda-out-alaska-2017