Since the implementation of the ACA, issues such as rising rates and payers leaving the state had created a noncompetitive health coverage environment and federal threats to end the program. To counteract those challenges, the state created a 1332 reinsurance program, which has led to a 15 percent rate decrease and enrollment growth, according to a June 27 news release from the Delaware insurance commissioner.
“Delaware’s health insurance marketplace is more stable than ever before, with rates steadying and enrollment at an all-time high. The hard work we have put into this program is paying off, with multiple new carriers planning to offer 2023 coverage,” Insurance Commissioner Trinidad Navarro said. “I look forward to the benefits that increased competition will bring to our residents, and to continuing to improve healthcare accessibility and affordability across the state.”
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.