Alaskans only have 1 option for coverage after forcing Moda Health out of individual marketplace: 5 things to know

Written by Mary Rechtoris | January 29, 2016 | Print  |

The Alaska Division of Insurance is kicking Portland-based Moda Health out of Alaska's individual marketplace, leaving Alaskans with only one option for healthcare coverage, according to Alaska Dispatch News.

Here are five things to know:

1. Alaskan residents can now only purchase coverage from Premera Blue Cross Blue Shield.

2. The Alaska Division of Insurance forced Moda Health out of the marketplace place after determining the payer had inadequate capital to operate in Alaska this year.

3. The payer reported a net loss of $58 million at the end of 2015.

4. Moda enrollees will still have to pay their premiums, and Alaska will ensure Moda continues to pay their claims.

5. Moda cannot renew Alaskan customers' plans once their plans expire.

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