Cigna Corp. will promote particular person plans by way of the Inexpensive Care Act market in 80 new counties subsequent yr, the well being insurer mentioned Wednesday.
The enlargement, which is proscribed to the 10 states the place Cigna already sells ACA particular person protection, extends its market footprint to greater than 300 counties. The plans will function no-cost digital care and a cap on insulin prices at $25 per thirty days for a 30-day provide. Protection that includes acupuncture advantages and $zero diabetes tools and provides can be accessible in some counties, the corporate mentioned.
Cigna’s enlargement follows these introduced by UnitedHealthcare and Oscar Well being. UnitedHealthcare, which largely pulled out of the exchanges in 2017, is dipping a toe again into the exchanges with purposes to promote plans in Maryland and Tennessee. Oscar, in the meantime, introduced a significant enlargement to 19 states, together with 4 new states and 19 new markets subsequent yr.
The strikes come at a time when insurers are dropping employer-sponsored plan members due to widespread job losses brought on by the COVID-19 pandemic. Most of Cigna’s 17 million members—practically 12 million— have protection by way of a self-insured employer than contracts with Cigna for administrative providers, making the insurer susceptible to the financial downturn. In distinction, Cigna served about 245,000 members on the ACA exchanges at June 30.
Researchers anticipate the general public who lose job-based protection to flock to Medicaid, however enrollment within the ACA exchanges may tick up as properly. The City Institute projected that due to the pandemic, 7.three million fewer folks would have employer-based protection and four.three million folks would enroll in Medicaid or the Kids’s Well being Insurance coverage Program. The ACA-compliant particular person market would expertise a web enrollment enhance of simply 200,000.
Cigna mentioned its ACA alternate enlargement would enhance its buyer attain in that market by 27%. The 10 states the place it sells ACA plans embody Arizona, Colorado, Florida, Illinois, Kansas, Missouri, North Carolina, Tennessee, Utah and Virginia.