Indiana Health Insurance Company Updates
Humana has announced that they will exit the individual health insurance markets in 2018. They had exited Indiana 2 years ago, so this announcement comes as no surprise.
Humana at one time had a strong national presence in the individual and group health insurance markets. Over the last 10 years, they have reduced that footprint. Humana’s focus is the medical senior markets. That segment may make up over 75% of their business. They have been competitive in ancillary products for small companies.
The decision to exit the individual markets, will impact 11 states. This includes any grandfather policies that were purchased prior to March 23, 2010.
Almost all the major health insurance companies, have experienced significant losses in federal exchanges. 2018 may be a difficult year for the individual health insurance markets. There is a high probability we could see the carriers that are left, also leave the individual market.
With this kind of risk, the safest place for health coverage is through a group health plan.