Because the nonprofit health insurance co-op Health Republic of New York failed last year, the government could give out less in risk-adjustment payments to other insurers like UnitedHealth.
“I have rates that are substantially too low based on risk-adjustment payments not being paid,” said William Golden, UnitedHealth’s northeast region CEO, at a state Senate roundtable Jan. 6.
Although UnitedHealth asked state regulators for a 22 percent rate increase for individual ACA plans, regulators only allowed it a 1.65 percent rate increase. The insurer said it regrets its choice to enter the ACA marketplace before it stabilized.
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