More states are moving their Medicaid beneficiaries to private managed care companies, Forbes reports.
Here's what you should know.
1. Illinois, North Carolina and Oklahoma are three of the larger states privatizing their Medicaid programs. Florida and Mississippi are renewing their privatized Medicaid plans.
2. Medicaid Health Plans of America CEO Jeff Meyers said he expects this trend to continue, especially if states reconsider Medicaid expansion. He said to Forbes, "States will realize that such a move can only successfully be made with the budget predictability that managed care provides."
3. Analysts believe the move will bring new customers to Aetna, Anthem, Centene, Molina, UnitedHealth Group and Blue Cross and Blue Shield in droves. Those six payers are already growing their Medicaid businesses, Forbes reports.
4. Illinois Gov. Bruce Rauner, R, plans to move more than 80 percent of the state's Medicaid beneficiaries into private health insurance plans.
5. Consulting firm PwC's 2016 report found 54.7 million Americans are already in a private Medicaid plan said as of last year.