News

Highmark: 150k people abandon health insurance plans in 2016

Written by The Associated Press | Mar 16, 2016 1:49 AM
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(Pittsburgh) -- Highmark Inc. says roughly 150,000 people have abandoned health insurance plans they had bought from the Pittsburgh-based insurer on the individual market for 2016. 

About 350,000 members were enrolled in 2015 for individual plans sold both on and off the federal marketplace.

That number dropped to about 195,000 members for 2016. 

Highmark set some of the lowest premiums in the country during the federal marketplace's first two years of operation.

The insurer lost about $773 million on the plans as treatment costs exceeded premiums. 

Highmark has responded to federal marketplace-related losses by reducing hospital and doctor networks, reducing or eliminating broker commissions, and lowering payments to doctors who treat patients with those plans.  

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