Has Obamacare Increased Market Competition?
Posted at 11:46 a.m. on March 18, 2014
Bloomberg: “A snapshot of Obamacare enrollment in seven states suggests the law hasn’t significantly increased competition in health insurance markets, the Kaiser Family Foundation reported.”
“In California, for example, four big insurers have largely carved up the state’s market. The divide is more equitable than before the Patient Protection and Affordable Care Act as California’s insurance market is now ‘moderately concentrated’ instead of ‘highly concentrated.’”
“WellPoint … lost ground in New York and Nevada, where it fell from 28 percent and 34 percent of the market, respectively, to 18 percent and 12 percent … In Connecticut, WellPoint’s plans now hold 60 percent of the market from 45 percent before major provisions of … Obamacare took effect.”
“Before the health-care law, one insurance company held at least half the individual market in 30 states, according to the Kaiser report. That remains true in some states, even after the major provisions of Obamacare took effect this year.”