More than half of health insurance executives said their companies plan to compete in individual or small group health insurance exchanges, according to a survey conducted by PwC US Health Research Institute.
According to the survey, nearly one-third of health insurance executives are considering participation in a health insurance exchange but are still undecided, while 17 percent of insurers do not intend to participate.
Of the executives who plan to participate, nearly two in five are not active in the individual market today, and one in five does not offer small group policies. Insurers are primarily concerned that a disproportionate number of high-risk patients could have an adverse impact on their business.
On average, insurers expect it will take approximately 15 months to get businesses ready for exchange certification by the federal government. Forty percent expect the process to take 18 months, and 20 percent believe it will take between two and two-and-a-half years.
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According to the survey, nearly one-third of health insurance executives are considering participation in a health insurance exchange but are still undecided, while 17 percent of insurers do not intend to participate.
Of the executives who plan to participate, nearly two in five are not active in the individual market today, and one in five does not offer small group policies. Insurers are primarily concerned that a disproportionate number of high-risk patients could have an adverse impact on their business.
On average, insurers expect it will take approximately 15 months to get businesses ready for exchange certification by the federal government. Forty percent expect the process to take 18 months, and 20 percent believe it will take between two and two-and-a-half years.
Related Articles on Coding, Billing and Collections:
Surgery Center Coding Guidance: Redo Laminotomy or Laminectomy Procedures
5 Key Questions on Surgery Center Managed Care Contracting: Q&A With Ken Bulow of Genascis
7 Situations When an ASC Might Not Need to Drop a Payor