Indiana: Physicians Health Plan dropping out of ENTIRE individual market
Physicians Health Plan of Northern Indiana announced Tuesday that it will quit selling individual insurance coverage next year through the federal Affordable Care Act.
The nonprofit PHP becomes the second insurer to announce it is leaving the HealthCare.gov insurance marketplace that serves residents of northeast Indiana. UnitedHealthcare said last spring it would drop out of the exchange in most states, including Indiana.
Four other insurers offered individual policies through HealthCare.gov this year in the Fort Wayne area and apparently will continue to do so in 2017. Insurers had until Tuesday to notify the state of their plans, and all four are among federal marketplace filings the Indiana Department of Insurance submitted Tuesday to the Department of Health and Human Services.
Fort Wayne-based PHP said it is paying $1.20 in medical expenses for every dollar it receives in premium payments from HealthCare.gov customers and has lost millions of dollars on the policies.
...Cahill said PHP has roughly 6,500 HealthCare.gov customers in a 40-county area, most of them residents of northeast Indiana. HHS said in February that there were 22,630 people enrolled in the exchange in the Fort Wayne-media market, which consists of northeast Indiana and northwest Ohio.
PHP will continue to sell small group insurance plans through the Affordable Care Act.
A different article on this, from the Washington Times, specifies that:
The nonprofit will continue to sell small group plans, but is dropping all its individual products, both on and off the exchange.
This actually reduces the average requested hike a smidge, from 18.0% to 17.7%: