Carrier to Exit New Jersey Health Exchange Marketplace

September 14, 2016

State officials say a health insurance carrier is leaving New Jersey’s health exchange marketplace created under the Affordable Care Act, or ACA.

Officials with Health Republic of New Jersey say the insurance co-op has been under “considerable financial strain” due to requirements under the ACA’s risk adjustment mandate. The program requires insurers with healthier and less expensive enrollees contribute to a fund that supports plans serving sicker and more expensive customers. Health Republic owes more than $46 million under the program this year.

The state Department of Banking and Insurance says Health Republic will serve customers through the end of 2016.

The move follows similar announcements earlier from Oscar Health Insurance and UnitedHealthcare. Consumers who buy health coverage through the state’s health exchange marketplace next year will have two options.

Was this article valuable?

Here are more articles you may enjoy.

Latest Comments

  • September 14, 2016 at 2:28 pm
    BasketofDeplorables says:
    Jack, I call it the Obamacare fiasco 100% of the time. Now, Progressives want Republicans to fix their mess or they want the US to give in and have complete Government Single... read more
  • September 14, 2016 at 2:04 pm
    Mrbob says:
    And then there were none. Amazing how such a "great" idea is such a huge failure. Just got to love the O'bozo legacy.
  • September 14, 2016 at 1:50 pm
    agent2 says:
    Yeah, they could not compete with the ACA BS so they get put in in rehabilitation which implies they screwed up. They did nothing of the sort.

Add a CommentSee All Comments (4)Add a Comment

Your email address will not be published. Required fields are marked *


More News
More News Features