Indianapolis based companies are having less options for group health insurance.
In the last year we have seen multiple carriers pull out of the health insurance market. Principal recently announced that they will no longer provide group health insurance in the state of Indiana and the rest of the country. Humana has chosen to no longer write new group health business for most of the state. They still have a handful of counties that they are writing in. American Community has been taken over by the Department of Insurance in Michigan.
The main players in the small group health market are Anthem & Unitedhealthcare. These two companies are national companies that own their own networks. Owning their own network gives them a huge advantage compared to a company that rents the network. These two companies are also cutting edge when it comes to technology. They both have wellness programs and disease management pr0grams. These tools can have a major impact on an employee who wants to make life style changes, shop diagnostic services, view facility quality reports. These companies are also the leaders in the large group market.
There are some smaller health insurance companies that could be a good fit for companies. Assurant has developed very creative plans. These plans can reduce premiums. Advantage which is available mainly in the Indiana is an HMO. The HMO model can work if you are OK with the network. Consumers Life is another company that is showing some promise. The are currently developing their own network here.
All of these companies are choices for coverage in the employee health market. Its finding the right plan for you company that is key. That’s why its very important to use a broker that know the market place.