Report Finds Insurers in Most States Do Not Face Much Competition
Health insurers face only "modest" competition in many states, with just one insurer claiming at least half of the individual health insurance market in 30 states and the District of Columbia, according to a Kaiser Family Foundation report, Modern Healthcare reports.
Researchers also found that in 24 states and D.C., one insurer covered at least 51% of consumers in the small group market.
In addition, researchers used a 10,000-point scale known as the Herfindahl-Hirschman Index to determine the health insurance competition level in states. The report found that 45 states scored at least 2,500 for the individual market and 39 states had the same score for the small group market, indicating that there was minimal competition in those markets (Evans, Modern Healthcare, 10/13).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.