The Phoenix-based insurer is pulling out of Maricopa and Pinal Counties, which represent Arizona’s most populous region. Depending on regulatory approval and hospital participation, the insurer will offer plans through the Health Insurance Marketplace in the remaining 13 of Arizona’s 15 counties.
“As a local company, we couldn’t overlook that several counties would have no options or very limited access if we didn’t find a way to stay in the market. Yet, we had to strike a balance between how we serve the market and the losses these plans incurred. We lost $185 million on individual ACA plans in just two years,” BCBSAZ President and CEO Rich Boals said. “After months of working through scenarios, we believe we have found a mix of plan types and benefits changes that will make these ACA plans sustainable for at least another year.”
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