Anthem is the largest Blue Cross Blue Shield (BCBS) provider in the nation. Currently, they operate in 14 states on the individual market:
- New Hampshire
- New York
Over the past two years, several health insurance carriers have left the marketplace. However, Anthem BCBS has remained a constant. They provide qualified plans for individual medical both on and off exchange. Additionally, they offer dental and vision plans for individuals. Aside from individuals, Anthem BCBS also does group health insurance. Lastly, they operate in the senior market as well by offering Medicare plans.
Although Anthem BCBS has maintained a steady presence in the individual market, the future of the Affordable Care Act is uncertain. Is a repeal and replace imminent or will the current law remain and undergo revision? That’s a questions with currently no answers. Regardless of the present state of America’s healthcare system, Anthem BCBS intends to stay in the market. In some states, they are the only option on the market. Take Georgia for instance; Anthem BCBS is the only health insurance carrier available in most counties. This is the same situation in a lot of states where Anthem BCBS operates; though, the same could be said about other carriers as well.
Because they are the only carrier available in some markets, the bulk of the responsibility falls to them. Meaning, they take on all the sick and medical claims thereby increasing their financial risk. As is the case for most insurance companies, the Affordable Care Act has caused an imbalance of healthy policyholders to sick, resulting in large claims. Carriers lose hundreds of thousands of dollars every year on the individual market. Despite any financial losses, Anthem BCBS remains committed to staying in the market and helping people get covered.
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