Editor’s note: This story has been updated to include comment from Access Health CT
Though Connecticut’s health insurance exchange has been held up as a national example of enrollment success, its offerings are less competitive than those in other states, according to a study by the Henry J. Kaiser Family Foundation.
Using an index that measures how evenly market share is distributed, Kaiser determined that Connecticut’s individual exchange insurance plans are 68 percent less competitive than they were in 2012, prior to the full implementation of the Affordable Care Act.
Compared to the five insurers offering plans in Connecticut’s individual market in 2012, there are just three participating in Access Health CT, which runs the exchange.
Of the three insurers that did participate, Anthem/Wellpoint and Connecticare/EmblemHealth both saw their respective market shares jump to 60 percent and 37 percent, up from 45 percent and 8 percent in the individual market of 2012. Meanwhile, nonprofit insurer HealthyCT brings up the rear with 3 percent market share.
Major players Aetna and United Healthcare decided not to participate in the inaugural round of the individual exchange.
Competition was more spread out in the individual market, when four insurers had market shares of 5 percent or more. The exchange has just two.
Kevin Counihan, CEO of Access Health, said in a statement that despite having three plans, the exchange provides a range of price and benefit choices.
“As health reform matures nationally, we expect many states, including CT, to offer more health plan choices and thus more value to our enrollees,” Counihan said.
Kaiser analyzed seven states that had release market-share data as of Feb. 18. It found New York and California to be the most competitive.
