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Anthem not quite so dominant

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After adjustments by the Indiana Department of Insurance, it appears Anthem Blue Cross and Blue Shield isn’t quite so dominant in the individual insurance market as previously reported—but it also stands to gain as two of the six largest plans pull back.

The Insurance Department filed updated numbers in an Aug. 10 letter to the U.S. Department of Health and Human Services. The latest figures, based on revised and late filings from the companies, show that Indianapolis-based Anthem covers 59.6 percent of Hoosiers who have individual health insurance policies.

Insurance department data from 2010 showed Anthem covering 65 percent of Hoosiers on individual insurance policies.

Anthem’s nearest competitor, Minnesota-based UnitedHealthcare and its Indianapolis-based subsidiary Golden Rule, cover 15.6 percent of the individual market.

Rounding out the top six are: Time Insurance Co., a subsidiary of Milwaukee-based Assurant Inc., with 7 percent of the market; Texas-based Mega Life & Health Insurance Co., with 2.4 percent; and Louisville-based Humana Insurance Co., with 2.1 percent, and Illinois-based Pekin Life Insurance Co.

Pekin has withdrawn from Indiana. And Mega stopped marketing new health insurance policies in the state as of June 7, according to the Insurance Department.

No other company claims more than 2 percent of lives covered by individual policies in Indiana.

Five health insurers, including Pekin and giants Cigna Corp. and Aetna Inc., have announced their exit from the Indiana individual health insurance market. Their main complaint is the new rule instituted by the federal health reform law requiring them to spend 80 percent of premiums on medical bills.

Many insurers are below that threshold and would have to rebate the difference to their customers. If the rule had been in effect last year, Indiana health insurers would have handed out rebates to individual customers totaling $30.5 million, according to Insurance Department data.

Anthem is pretty close to the mark. It spent 76.6 percent of its individual policy premiums on medical bills last year, according to Insurance Department data. If the 80-percent rule had been in effect, Anthem would have paid $9.3 million.

Anthem spokesman Tony Felts said the company does not anticipate having to pay rebates based on this year’s business trends.

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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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