Tuesday, July 2, 2013
The move is evidence market competition reduces costs.
The Executive Director of the District’s new health insurance marketplace today praised the decision by Aetna to reduce its rates for policies sold to small businesses in the District by more than 5 percent. This follows a recent announcement by United HealthCare to reduce its proposed small group rates by an average of almost 10 percent.
“Aetna’s decision is a strategic one. As a result, small business owners will get better prices. This is further evidence that full price transparency leads to lower prices for consumers,” said Mila Kofman, J.D., executive director of DC Health Link.
In June, the D.C. City Council unanimously approved legislation creating one big marketplace for individuals, families, and small businesses to shop, compare, and enroll in high-quality health plans. The legislation requires insurers to list their prices, benefits, and other critical information on DC Health Link so that people can compare them side-by-side, driving greater transparency and price competition.
“The District is committed to ensuring all of our residents and small business owners will gain access to high-quality, affordable health coverage. As a leader in implementing the federal health law, our city will serve as a role model for jurisdictions across the country,” said Mayor Vincent C. Gray.
“The goal of DC Health Link is to guarantee access to high-quality, affordable health insurance for everyone in the District. This is a giant step closer to accomplishing that goal,” said Councilmember Yvette Alexander (Ward 7), chair of the City Council’s Committee on Health.
DC Health Link, the District’s new online insurance market, will open for enrollment on October 1 with coverage effective January 1, 2014. To view the new rates, visit disb.dc.gov/hbxplans.