For Connecticut insurer, a targeted approach leads to ACA success

By limiting its focus to individual state plans, one mid-size insurer in Connecticut is outpacing national payers in marketplace enrollment and profitability, according to HartfordBusiness.com.

ConnectiCare has won the market share of individual plans on Access Health CT, Connecticut's Affordable Care Act (ACA) exchange, for the past two years. The insurer accounted for 57,000 enrollees during the 2015 enrollment period, 20,000 more than Anthem. ConnectiCare President Michael Wise told HartfordBusiness.com that the company's success is tied to its ability to narrow its focus on the individual market and limit its plan offerings to one state exchange.

"It doesn't mean we think our competitors offer poor products because they have headquarters in other states, but the focus really matters," Wise said.

Many national insurers have suffered large losses on marketplace plans, but ConnectiCare has posted profits of $12.3 million in 2014 and $13.6 million in 2015. Although the insurer has seen less financial success in Medicare Advantage plans, it is leading the state in enrollment and remains committed to the long term benefits of the market, reflecting a surge in Medicare Advantage enrollment over the last five years.

Other mid-size plans have found success on the ACA exchange thanks to a combination of strategic premium pricing and comprehensive provider partnerships. Given the struggles many insurers have faced, the federal government has recently turned its attention toward providing stability within state exchanges.

For more information:
- read the Hartford Business.com article