More than 80% of enrollments on New York's insurance exchange for 2014 coverage went to six health plans. The remaining 10 insurers selling products through the online marketplace received less than 20% of enrollments.
Roughly 230,000 New Yorkers signed up for private health plans through New York State of Health by Dec. 24, the deadline for coverage that takes effect at the start of 2014. By Jan. 10, that figure had swelled to just more than 285,000, according to new data released by the exchange.
The breakdown of New York's exchange business—which accounts only for transactions completed by Dec. 24—is among the most detailed available in the country.
Empire Blue Cross and Blue Shield sold 18% of the plans purchased through the online marketplace, the largest share for any single health plan. But Health Republic Insurance of New York—a startup not-for-profit insurer—was close behind with 16% of the market.
Peter Newell, director of New York Hospital Fund's Health Insurance Project, was not entirely surprised by Health Republic's initial success. “They had very competitive rates in almost every county they were in,” he said. “These co-ops are starting with zero covered lives. It's important for them to get enrollments early on, and it looks like Health Republic has done that.”
Rounding out the top six by market share were Fidelis Care (14%), EmblemHealth (12%), MetroPlus Health Plan (11%) and MVP Health Care (10%).
Slightly more than half of New York's exchange customers purchased silver plans, by far the most popular options. But 17% of consumers opted for platinum plans, the most comprehensive option.
Follow Paul Demko on Twitter: @MHPDemko
