Calif Unveils State Exchange Players, Rates

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon

Covered California, the state’s health-care insurance exchange, named the 13 participants that will offer the four-tiered health-care insurance policies in 19 designated regions in California, where as many as 5 million residents are expected to obtain insurance for 2014, the Los Angeles Times reports.

Among them are Kaiser Permanente, Anthem Blue Cross, and Blue Shield of California, the state’s three largest insurers with 87% of the individual market. However, three major national players—UnitedHealth, Aetna, and Cigna—elected to sit on the sidelines. According to an article in the Los Angeles Times, the three holdouts represent just 7% of the state’s individual market, but do cover a larger share of the employer-provide market.

Rates also were announced, with supporters touting lower-than-expected prices, and detractors focusing on the fact that consumers who are not eligible for subsidies will likely pay more for health insurance in 2014, although benefits stipulated by the law are likely to be richer.

The 13 plans selected will sell uniform benefit packages with identical co-pays in four tiers of coverage (Platinum, Gold, Silver, and Bronze), featuring a graduated price structure. According to the analysis in the Times, rates for a 40-year-old purchasing a Silver plan range from $242 a month through Health Net to $325 per month through Kaiser Permanente.

LA TImes, RatesLA Times, InsurersCovered California