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Financial losses and tight capital led to a big decrease in startup health insurer participation in individual health insurance markets this year, according to McKinsey & Co., reports ThinkAdvisor. These insurtechs are selling health coverage through only 24 Affordable Care Act public exchange programs this year, down 45% from the 2022 total, according to the analysis. Before this year, insurtech carriers had increased their exchange user reach from close to zero in 2014 to about 55% in 2022.
1. Hackers leak stolen data from Change Healthcare on dark web
2. UnitedHealth estimates $1.6 billion loss from Change cyberattack
3. UnitedHealth reports significant data breach; personal health info compromised
4. Ex-NBA player Will Bynum sentenced in insurance fraud scandal
5. Illinois House passes governor’s 'Healthcare Protection Act’
6. Analyst says Cigna, Humana share prices could put merger back on the table