Medica is the second insurer to stop offering Affordable Care Act Marketplace health insurance in Oklahoma beginning next year, a company spokesperson confirmed to StateImpact.
The Minnesota-based nonprofit health plan offers Marketplace, Medicaid, Medicare and employer-sponsored plans, serving more than 1 million members nationwide.
The spokesperson told StateImpact it will no longer offer individual and family Marketplace plans in Oklahoma starting next year, impacting about 8,400 members. The company will also cease providing Marketplace coverage in Iowa and Kansas. Current plans will continue through the end of the year.
The decision was part of a regular review of Medica’s product offerings “to ensure they support stability, sustainability and affordability,” the spokesperson said.
“Medica’s strategic focus is to ensure we remain competitive in markets where we can deliver value by simplifying offerings, reducing overlap, and prioritizing high-value provider partnerships,” the spokesperson said.
The move is part of a broader trend of insurer exits as changing federal policy fuels declining enrollment. Mending, an ACA insurer in Oklahoma and Maine, announced it would no longer offer health insurance. Its co-founder, Jeff Yuan, cited rising healthcare costs and the expiration of enhanced premium tax credits as contributing factors.
As of last year, Oklahomans could choose from plans offered by seven carriers.
Healthinsurance.org health policy analyst Louise Norris told StateImpact it’s still too early to tell whether this trend will continue, as rate filings aren’t publicly available for a majority of states. She encouraged enrollees to stay updated on any notifications they receive from their plans.
Norris added people impacted by insurer exits should actively shop for a new plan that fits their needs during open enrollment, rather than letting the Marketplace automatically re-enroll them in one.
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