The money, known as reinsurance payments, helped MDwise, Anthem, Humana, Assurant and the Physicians Health Plan of Northern Indiana keep a lid on their losses even as lots of new patients with expensive or untreated medical conditions migrated into the private insurance market.
State enrollment in HIP 2.0 has climbed to nearly 290,000 participants, with about 60 percent of those people under age 40, according to state figures presented Thursday.
A recent study found the number of health insurers offering broad provider networks on the Obamacare exchange was higher than in all but 10 other states and suggests that so long as Hoosiers keep singing “Don’t Fence Me In,” they could keep paying more for health insurance.
A flood of money from Obamacare—for the expanded Healthy Indiana Plan and for private health insurance purchased on the federal exchange—is boosting revenue and profit among Indiana health insurers.
Spending on prescription drugs has soared 451 percent this year at Indianapolis-based MDwise as new drugs for hepatitis C and cancer soar above $100,000 per patient.
The prices health insurers charge Hoosiers on the Obamacare exchange will drop more than in any other state next year. But for most Hoosiers, that’s bad news. Lower average premiums statewide means smaller tax subsidies statewide to reduce the cost of Obamacare policies.
The Indianapolis-based hospital system said its efforts to reduce patients’ need for expensive health care services, known as population health, slashed the use of hospitals, nursing homes and expensive imaging scans among the 140,000 Hoosiers IU Health now serves.
UnitedHealthcare, MDwise, IU Health Plans and Assurant all disclosed losses during the first nine months of this year on the policies they are selling on the federal marketplace created by the Affordable Care Act.
Financial industry regulators have barred a Fishers investment broker for life for refusing to cooperate with an investigation, and suspended a local compliance officer for 14 months.
Anthem, one of Indiana’s largest insurers, is seeking premium hikes ranging from nearly 20 percent to 41 percent for coverage it sells on and off the Affordable Care Act’s public insurance exchanges.
Hoosiers looking for health insurance on the Obamacare marketplace for next year will see fewer choices and double-digit premium increases on most plans, the Indiana Department of Insurance said Thursday.
Tavonna Harris Askew successfully led an effort to turn then-Wishard health clinics into a federally qualified health center. Now, she also serves as the public entity liaison on that project, which has received over $5 million in federal funding.
MDwise said it could not reach an agreement with the Indiana Family and Social Services Administration’s Office of Medicaid Policy and Planning over payment rates for the Hoosier Care Connect program.
Indiana hospitals are bracing for congressional action that could mean deep cuts in Medicaid, which funds the state’s popular health insurance program for low-income adults.
Two Indianapolis-based health insurers are pulling out of Indiana’s insurance exchanges next year, citing growing uncertainty over the future of the Affordable Care Act. Together, they represent about 77,000 members who now must find other plans.
Competition in many markets has dwindled to one insurer—or none in some cases—and another round of steep price hikes is expected to squeeze consumers who don't receive big income-based tax credits to help pay their bill.
The Indiana Department of Insurance has yet to approve the insurers’ proposed higher rates, which will be for those buying individual plans on the Affordable Care Act marketplace next year.
Indiana Gov. Eric Holcomb says the law is “crumbling under its own weight” and that people in as many as 60 Indiana counties will be left with just one choice for insurance coverage on the marketplace next year.
