Covered California Announces 12 Insurers in Individual Marketplace
On Wednesday, Covered California announced that it has signed contracts with 12 health insurers that will offer plans through the health insurance exchange's individual market beginning in October, the AP/Sacramento Bee reports (AP/Sacramento Bee, 8/7).
Background on State Exchange
Covered California -- the state health insurance exchange -- primarily will serve individuals and small businesses.
Supporters hope that the exchange will function similarly to websites like Amazon and Expedia, allowing users to choose among various health plans through an easily navigable online store.
The exchange is expected to open for registration in October, and an estimated five million people will purchase plans through the exchange in 2014 (California Healthline, 7/25).
Details of Announcement
According to Covered California officials, insurers that will offer individual plans through the exchange are:
- Alameda Alliance for Health;
- Anthem Blue Cross;
- Blue Shield of California;
- Chinese Community Health Plan;
- Contra Costa Health Plan;
- Health Net;
- Kaiser Permanente;
- L.A. Care Health Plan;
- Molina Healthcare;
- Sharp Health Plan;
- Valley Health Plan; and
- Western Health Advantage.
Six of the insurers also are offering plans through the exchange's small business marketplace (AP/Sacramento Bee, 8/7).
Meanwhile, Ventura County Health Care Plan -- which originally was slated to offer individual coverage through Covered California -- unexpectedly chose not to participate in the exchange next year (Terhune, "Money & Co.," Los Angeles Times, 8/7).
In a release, Peter Lee -- executive director of Covered California -- said the exchange is "proud of the product mix, the robust provider network and the lower-than-expected premiums."
Lee added that the exchange "remains partners with Ventura County Health Care Plan and will lay the groundwork for negotiations next year" (Covered California release, 8/7).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.