There are two ways to purchase health insurance if you are under age 65.
1) If you qualify for a tax credit also know as a premium subsidy you purchase "On-Market" through an exchange such as the Federally Facilitated Marketplace. 2) If you do not qualify based on income for a tax credit or premium subsidy you purchase "Off-Market" directly from and insurer.
Aetna announced on Monday they will be leaving 11 of the 15 Obamacare Exchanges they currently participate in. In two states Oklahoma and Alaska this will leave one insurance carrier offering for all beneficiaries seeking health insurance through the marketplace.
The good news from some Aetna insureds is "Off-Market ACA plans" will continue to be available in a vast majority of counties where 2016 ACA plans were offered. However, Aetna will only offer on-market products in Delaware, Iowa, Nebraska and Virginia.
In the state of Arizona specifically Maricopa County which covers greater Phoenix and surrounding suburbs Aetna, UnitedHealthcare, Blue Cross Blue Shield of Arizona, Health Net and Humana have made the choice to leave the market. Some insurance companies are leaving completely and some will remain insuring "Off-Market" insured. This may leave only one option for "On Market ACA" enrollees in Maricopa county.
There still could be some major game changing announcements yet to come. We are following all the industry announcements daily and promise to keep our clients up to date as important announcements are made.
Open enrollment begins on November 1st please mark your calendar to give a call, so we can help you with you 2017 benefit options!
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