Moda HealthPlan Inc. will not offer health care insurance in the individualmarket in Alaska in 2017, the state's Division of Insurance said May 2.
Current and new policyholders will be covered through Dec. 31.Moda Health currently serves 14,000 Alaskans in the individual health caremarket.
The division expects that PREMERA's PremeraBlue Cross Blue Shield of Alaska will be the only insurer offeringplans in the state's individual market in 2017.
"A single insurer does not allow for adequate choicefor the 23,000 Alaskan consumers on the individual market, and is even more ofa concern given that Premera is also experiencing significant losses in Alaska'sindividual market," Lori Wing-Heier, director of the Division ofInsurance, said in a statement.
The Oregon Department of Consumer and Business Services,Division of Financial Regulation in January issued an order of supervision to Moda Health due to excessiveoperating losses and inadequate capital and surplus. The department the order in February andissued a consent order that provided a plan for the insurer to stabilize itsfinancial position and continue operations.
The Affordable Care Act's 2017 open enrollment period beginsin November.