With UnitedHealth Group and Humana withdrawing from the federal individual health insurance marketplace in Alabama, Blue Cross Blue Shield of Alabama is the only insurer left that is still offering its plans in the state.
Both UnitedHealth and Humana cited financial reasons for their exit from the exchange; the insurers have also withdrawn from other states’ marketplaces.
"There are a number of persistent issues that hinder our ability to offer affordable, high quality and attractive individual insurance products in some markets,” a Humana spokesperson told local ABC News outlet WAAY 31.
The dearth of health insurers could affect insurance rates in Alabama, suggested the Kaiser Family Foundation in a recent report. UnitedHealth’s benchmark plans were the most affordable among most counties in the state.
According to WAAY 31, most federal marketplace plans in Alabama are covered by Blue Cross and Blue Shield.
Alabama Department of Insurance Chief of Staff Mark Fowler stated that any insurers that want to compete in the state marketplace only have until May 11 to do so.
Consumers will have to wait until November 1, when the federal marketplace goes live, to know if the rates were affected by the insurer departures.
