Datapoint: Premera Blue Cross to Exit MA Market
Premera Blue Cross on Oct. 1 said that it will exit the Medicare Advantage market starting January 1, 2025, citing to changing market conditions and financial pressures. The company says this strategic shift will allow it to focus on its growing lines of business, such as employer-sponsored health plans, Medicare supplement plans and exchange plans. “This was an incredibly difficult decision, particularly given our position as the only local commercial health plan in Washington and our commitment to serving our community,” CEO Jeffrey Roe said in a statement. “Despite our best efforts, the challenging market and financial constraints have made the long-term success of our Medicare Advantage program unsustainable.” Premera currently serves 31,852 MA members in Washington. The insurer will continue to offer Medicare supplement plans.
Source: AIS’s Directory of Health Plans
