Due to the increasing revenue for Health Care Service, some individual Obamacare customers in five states could see cheaper rates.
Health Care Service, which is a mutual insurer owned by policy holders, said it has “filed average rates for small group Affordable Care Act-aligned plans ranging from slight reductions to modest increases, effective July 1, 2018.”
“Final small group rates will be finalized in spring and may vary by customer,” Health Care Service said. “While individual rate filings have not been completed, preliminary analysis suggests relief for individual rates similar to what is filed for small group products, provided sensible market stabilization measures remain in place.”
Health Care Service hopes to reduce the cost of health care for its members, invest in “collaborative care” partnerships with medical providers and patients, and invest more in digital and data technology.
Cigna and Centene are also seeing improved profits from their individual businesses even after gaining customers from insurers like Aetna and UnitedHealth Group that left the ACA’s exchanges after they couldn’t effectively manage the costs of sick patients buying individual policies.
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