Health Insurers Get In Shape For 2014
|By REED ABELSON|
At the same time, he is preparing
Insurance companies across the country, whether national profit-making players like
Since joining the company as chairman and chief executive — he came to Florida from
But the Affordable Care Act and the increasing pressure on the nation’s health care system to become more efficient represent a major departure for insurers — particularly those, like
“No question, the pace and magnitude of change are immense,” said
Although some of its profit-making rivals, like
The company has 11 stores today. It says it has sold tens of thousands of policies and established the locations as places where customers like
The new health care law also promises an expansion of
Insurers, however, see the change as an opportunity for growth, especially since so many low-income people will move back and forth between the exchanges and
Some companies, like WellPoint and
Like many insurers,
“Florida Blue has the same problems everyone else has,” said Dr.
The insurer has also announced plans to work with a number of health systems to improve the quality of care while reducing costs.
“Nobody has the perfect crystal ball,”
Even the way insurers offer plans to people covered by their employer is expected to change, as some companies look to private exchanges, where they may contribute a fixed amount toward the policy but let the worker choose the plan and even the insurer.
While it is far from clear that these private sector exchanges will take off,
So far, the experience has been positive: the insurer says it was chosen by 90 percent of the full-time Florida employees of
But Mr. Geraghty’s most immediate challenge is to prepare
While he acknowledged that the insurer had “a lot of legwork to do” to be able to start offering plans for the exchange this October, he said he wasn’t losing sleep over the uncertainty. “I don’t rattle easily,” he said.
|Copyright:||Copyright 2013 The New York Times Company|
|Source:||New York Times Digital|