New Companies Ready to Offer Health Plans in Washington’s Exchange

The coming year has four new companies who have applied to sell health insurance in the individual market through the Washington Health Benefit Exchange’s Healthplanfinder. This will bring the number of insurers to twelve. The majority of people in Washington have health employer based insurance.

“The proposals submitted certainly indicate that consumers will have more options available to them,” Insurance Commissioner Mike Kreidler said in a statement. “I expect that we’ll have even more robust markets inside and outside of the exchange for 2015. Increased competition is part of health care reform and that’s what we are seeing.”

New insurers applying to operate through the exchange are: Vancouver, Wash.-based Columbia United Providers; Illinois-based Health Alliance Northwest Health Plan Inc.; Minnesota-based United Healthcare of Washington Inc.; and Portland, Oregon-based Moda Health Plan Inc.

Insurers who enter Washington's market will have to comply with Error! Hyperlink reference not valid. that were finalized by the Office of the Insurance Commissioner (OIC) last week. The OIC is still reviewing the submissions. Officials estimate a more detailed analysis of the proposed 2015 plans – including where in the state they would be available.

References:

Valerie Bauman, May 2014

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Hannah Punitha (IRDA Licence Number: 2710062)

Source-Medindia