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Thursday April 24th 2014

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Anthem Blue Cross Passes on State’s Small Businesses Market

AnthemLogoAnthem, California’s largest insurer for small employers is passing on California’s new insurance market for small businesses, a potential setback in the state’s rollout of the federal healthcare law. The company’s surprising move raised concerns about the state’s ability to offer competitive rates and attract businesses to its new Covered California exchange that opens Jan. 1. Friday’s disclosure made Anthem the first big insurer in California to publicly pass on the small-business pool. Some other big names, such as UnitedHealth Group Inc. and Aetna Inc., have already opted out of California’s larger exchange for individual consumers. Most industry experts have not expressed alarm about the handful of big companies so far that have chosen to sit on the sidelines according to a recent report in the Los Angeles Times.