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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. Ford sues BCBS Association alleging price fixing that drove up costs
2. Benefytt Technologies files for bankruptcy after paying fraud settlements
3. More than 60% of retirees would like a do-over on retirement planning: Survey
4. UnitedHealth revises controversial prior authorization plan for colonoscopies
5. Cyber attack on dental insurance plan compromises nearly 9 million individuals
6. Retirees sue city officials over switch to Medicare Advantage plan