Anthem Blue Cross & Blue Shield won the initial market share battle for newly insured residents through the state’s health insurance exchange, but its lead was narrowed by its closest competitor.
Of the 80,018 individuals and small businesses who signed up for private health insurance through Access Health CT, 53 percent chose Anthem as their insurance carrier, according to recent stats released by the state.
Farmington insurer Connecticare had the second largest market share of 44 percent, while Wallingford nonprofit insurer HealthyCT grabbed 3 percent of the market.
Access Health CT is the online insurance marketplace created as a result of the Affordable Care Act. Its inaugural enrollment period ended March 31, but new customers were signed up through May. Overall, Access Health signed up 229,031 people for coverage, but the majority of them (149,013) qualified for Medicaid.
The remaining 80,018 customers purchased private health plans. Initially, Anthem opened up a wide market share lead: In December it owned 62 percent of Access Health’s private insurance market, but Connecticare was able to cut into that lead growing its market share from 36 percent in December to 44 percent in May.
HealthyCT, which is a brand new player in Connecticut, got off to a slow start and didn’t recover. Access Health CT’s next open enrollment period begins Nov. 15 for insurance plans that go into effect next year.
All three insurers are expected to continue to compete on the exchange. Massachusetts’s Harvard Pilgrim Health Care, which just entered the Connecticut market, plans to begin selling insurance exchange products by Jan. 1, 2016.