UnitedHealth eyeing return to ACA markets

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.

Related: More insurers returning to ACA marketplaces

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.

Read more: 

• States reopen ACA exchanges for COVID-19 enrollment period
• CMS official numbers: Obamacare signups down, premiums (and subsidies) up
• When it comes to health care costs, number of marketplace competitors matters less than type