This preview shows page 1. Sign up to view the full content.
Unformatted text preview: an 80% market share, or 214,000 covered lives. They are Kaiser Foundation Health Plan
(78,743 lives), UnitedHealthCare (70,161 lives),
and Anthem Blue Cross Blue Shield (65,123 lives).
Five carriers left the small group market since
2009, and six are in process of formally exiting the
market. These six companies represent 1.5% of the
Small group employers surveyed by the Colorado
Division of Insurance suggest that 60% of small
businesses shop for insurance every year and continue to see a decrease in the number of affordable
healthcare options. Small group employers rank
price, benefits and copays, and deductibles as the
most important features when selecting a carrier
and plan design. Industry Trends
As healthcare costs continue to rise, carriers have
responded with larger portfolios tailoring benefit
design products with features including the expansion of narrow networks, and health maintenance
organizations (HMOs) with high deductible health
savings accounts. In Colorado, employers sligh...
View Full Document
This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery