Last week, United Healthcare (UnitedHealth Group, UHN), announced it would expand into the Health Insurance Exchanges ("Marketplaces") in as many as 24 states in 2015, up from only five this year.
For those following the Affordable Care Act (ACA), this is significant news. United Healthcare, the nation's largest health insurance company, was noticeably absent from the Exchanges during the first year of operations as they evaluated the opportunity and the risk of offering health plans through the public Health Insurance Exchanges.
Now, with over 8 million enrollees in the first open enrollment period and more information about the demographic of enrollees, United Healthcare is just one of the major carriers planning to expand their public Exchange offerings in 2015.
According to an article by the Wall Street Journal, other major carriers expanding Exchange offerings in 2015 are Aetna, Humana, and Cigna.
For consumers, this news means more individual health plans to choose from and more competition in many of the state Exchanges.
See related article: Will Health Insurers Flood to the Exchanges in 2015?
See related media coverage on the topic:
- [The Wall Street Journal] UnitedHealth Weighs In on New Exchange Option