For 2022 it appears Indiana will have four insurance companies offering Individual coverage through the federal marketplace. This doubles the current carriers participating in the Individual Health Insurance Indiana. This information is based on filings with the Indiana Department of Insurance.
CareSource Indiana- will continue to offer plans on the marketplace for 92 counties in Indiana.
Ambetter- will continue of offer plan on the marketplace for all 92 counties in Indiana.
Anthem- is returning to the marketplace and will be offering plans in 45 Indiana counties.
US Health & Life- is new to the Indiana marketplace and will offer a plan in 30 Indiana counties.
The new addition of Anthem and US Health & Life returning and entering the Indiana individual market is no surprise. With the recent changes to premium assistance calculation and removal of income limits to qualify, we predict the marketplace will continue to grow in members.
US Health & life looks to be aligning themselves with the Ascension medical network AKA St Vincent’s, which goes with the trend of carriers developing a “high performance” network to control costs. This type of approach can lead to an “integrated care” model where all the patient’s physicians communicate with one another in the treatment of acute conditions.
Integrated care can produce better treatment outcomes and a better overall patient experience. This also makes sense that St Vincent’s creates their own Individual Health Insurance option.
Anthem- In a surprising move is aligning with the IU Health medical community. IU Health did have an Individual Health Insurance policy at one time but chose to exit the market. Anthem, which is the largest insurer in Indiana, is no stranger to the individual market.
What is surprising is the IU and Anthem partnership for this new Individual Health Insurance plan. Anthem has been developing its own “high performing” network called health sync. It will be interesting if the new Anthem plan will be specific to the IU network. IU Health has been successful with its integrated care model.
CareSource- Will return to Indiana as the lowest costing individual health plan before premium assistance. Their network access is not consistent with one medical group. We have seen their network offered through the exchange grow with participating providers in the past two years.
Ambetter- Will return to offer coverage in 2022 with the highest costing plans before premium assistance. Currently, their network has provided the most network access in Indiana.
November of 2021, all the detail of the Individual health insurance options should be release for the open enrollment period.
Anthem will offer 10 plan options.
Caresource will offer 13 plan options.
Ambetter will offer 42 plan options.
US Health will offer eight plan options.
Network access will continue to be an issue for those Hoosiers that have been used to PPO coverage. It’s become common practice to value current physicians as not all of them may accept the individual marketplace carriers.
Anthem’s & US Health’s partnership with two large medical providers could impact CareSource and Ambetter network where St. Vincent’s and IU pull out of the other Individual carriers networks.
2022’s open enrollment in the individual market will be a year where Hoosier may need to reevaluate health plans not just on cost and plan design but network access.
As health care costs continue to skyrocket in Indiana, we will continue to see health insurance plans utilize “high performance” networks in an attempt to control cost.
Please check back with us as we get closer to the open enrollment.
