California has signed contracts with 12 health insurers confirming their participation in the state's new health insurance exchange, Covered California.
The insurers will offer coverage through the Covered California individual exchange. Six will also sell coverage through the state's small business health options market. Ventura County Health Care Plan — an HMO sponsored by California's Ventura County — was tentatively selected to participate in the exchange but has opted to delay joining the marketplace for a year. Covered California supports the Ventura plan's decision not to enter the exchange until 2015, according to a news release.
Ventura isn't the only plan to opt out this year. Last month, WellPoint subsidiary Anthem Blue Cross opted not to sell policies through the California SHOP exchange. Additionally, major insurers Aetna and UnitedHealth Group announced in recent months they intend to withdraw from the state's individual market entirely.
More Articles on Health Insurance Exchanges:
Anthem Won't Participate in California's Small Business Exchange
UnitedHealth to Take Individual Business Out of California
Aetna to Drop Out of California's Individual Insurance Market
