Thread: Aetna pulls out of New York health insurance exchange

Aetna pulls out of New York health insurance exchange



Thu Aug 29, 2013 10:57am EDT


(Reuters) - Aetna Inc, the No. 3 U.S. health insurer, said on Thursday it has decided not to sell insurance on New York's individual health insurance exchange, part of the country's healthcare reform.

New York is the fifth state where Aetna has pulled its application to sell the plans that go on sale on October 1 and into effect on January 1, 2014. It has also reversed course in Maryland, Ohio, Georgia, and Connecticut, where it is based.

Aetna spokesman Cynthia Michener said it made the move after assessing its business strategy, following the acquisition of smaller insurer Coventry Healthcare in May. Coventry also filed applications to sell plans in more than 10 states.

"Our goal for 2014 is to participate in a limited number of state exchanges where we can be competitive and add the most value to the market," she said in an emailed statement.

She said the company will continue to serve small business and large business customers in New York and will offer individual products outside of the exchanges.

New York's market for individuals is currently only about 17,000 people, but the exchange is expected to bring in 1 million people during the first three years. The exchange announced insurance participants on August 20. Aetna was not on the list.
http://www.reuters.com/article/2013/08/29/us-aetna-exchanges-idUSBRE97S0QM20130829

08/26/2013 05:00 AM

New York Health Exchange designed with enrollee in mind

By: Erin Billups

Open enrollment begins on October 1 as part of the New York Health Exchange. As YNN's Erin Billups reports, the system was designed for you in mind.

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"It is my pleasure to announce that the name of our state exchange is New York State of Health. The Official Health Plan market place," said Donna Frescatore, New York State of Health Executive Director.

Exchange officials are hoping to signal to New Yorkers that the new service was crafted with them in mind.

The name unveiling was launched via webcast with an introductory video. It was the kickoff for the campaign to attract the more than one million New Yorkers that will be eligible for coverage on October 1. It is the uninsured and underinsured population between the ages of 19 and 64, along with small business owners with less than 50 employees.

"On average, premiums for individuals who buy their coverage directly will be reduced by 53 percent from today’s premiums," said Frescatore.

Frescatore also announced the participation of 12 different dental plans. Training is underway for hundreds of navigators, brokers and customer service specialists who will walk consumers through the enrolling process. They'll start taking questions in mid-September.

Frescatore said, "All New Yorkers can be ensured that they will have qualified, trained, individuals ready to assist them in all areas of the state."

Now you can also get an estimate of what your premiums could be through the exchange and determine whether you're eligible for a federal tax credit through the online calculator.

"Over 75 percent of New Yorkers who buy coverage for themselves will qualify for tax credits to help them further reduce their costs," noted Frescatore.

A map tool on the site allows potential enrollees to determine which insurance providers cover their counties. A separate web portal is currently being built and tested for the main exchange site to prepare for what is expected to be heavy online traffic during open enrollment.

http://rochester.ynn.com/content/health/healthy_living/687425/new-york-health-exchange-designed-with-enrollee-in-mind/