Indiana University Health Plans is leaving the ACA after eliminating individual offerings in 2017, the Indianapolis Business Journal reports.
Here's what you should know.
1. The decision was made despite the health plan receiving approval for a 15 percent rate increase.
IU Health Plans President James Parker cited uncertainty created by other insurer withdrawals and new market dynamics as the reason behind its decision.
2. IU Health Plans is a subsidiary of the Indiana University Health hospital system. The insurer said 27,000 people were enrolled in policies through the exchanges. They will have to seek out new policies.
3. The insurer will continue to cover the 62 counties it serves outside of the exchanges. It will still offer commercial and Medicare Advantage plans.
4. Five insurers will remain in the marketplace throughout Indiana. UnitedHealthcare and the Physicians Health Plan of Northern Indiana both announced plans to leave the exchanges.
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