UnitedHealth, as well as other major insurers, withdrew completely from exchanges in many states and limited plan offerings in remaining markets. (Photo: Shutterstock)
A good omen for the ACA public exchanges: health insurance behemoth UnitedHealthcare is making plans to re-enter the markets in 2021, following a four-year hiatus.
"As the exchanges have matured and stabilized, we intend to offer exchange plans in those states where we can provide an efficient network and competitive product capable of driving sustainable value for consumers and our state and federal partners," a UnitedHealthcare spokesman wrote in an email to Modern Healthcare.
UnitedHealth, as well as other major insurers, withdrew completely from exchanges in many states and limited plan offerings in remaining markets. The move followed significant financial losses related to ACA plans and the overall instability of the markets. In the years following, the markets have continued to stabilize, and the collapse many feared never came to fruition.
As reported by Modern Healthcare, UnitedHealth has applied to sell plans in Maryland in 2021 and is hinting at further expansion. With unemployment rates continuing to climb, many consumers who have lost their employer-sponsored health insurance will be turning to the ACA exchanges, creating a financial opportunity for participating insurers.
"We also believe that an exchange product can serve as an important part of a broad portfolio of public and private options capable of providing universal coverage to all Americans," a spokesman wrote to Modern Healthcare.
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Emily Payne
Emily Payne is director, content analytics for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
