Patty Fontneau, CEO of Connect for Health Colorado, will leave her position at the state's health insurance exchange
in mid-August to become president of Cigna's
private exchange business.
She will help the insurer expand its business in other insurance marketplaces across the country, according to a news release. Bloomfield, Conn.-based Cigna is one of 10 carriers that offers individual health plans on the Colorado marketplace.
As of June 30, the not-for-profit Connect for Health Colorado—a state-run insurance marketplace created under the Patient Protection and Affordable Care Act—had signed up almost 140,000 state residents
with a private health plan. However, like most exchanges, Colorado's encountered technical glitches
during the first open enrollment period.
The organization has touted its health plans' administrative fees as among the lowest in the country. But a report from The Denver Post
said that may put the exchange in a fiscal conundrum in the future, especially once federal funding grants dry up.
Connect for Health Colorado expects to name an interim CEO by next week.Follow Bob Herman on Twitter: @MHbherman