GAO: insurer competition since the ACA

Remember when we were told PPACA would increase competition?

A new GAO report says otherwise.

Since PPACA, the health insurance market has undergone significant changes:

• Fewer competitors as smaller insurers exit the market.

• Higher premiums and fewer options in consolidated markets.

• Stability from larger insurers, but at the cost of reduced competition.

With more insurers leaving markets, this trend shows no signs of reversing. For brokers, navigating this condensed landscape means finding innovative ways to serve clients amidst limited options which can bring its own set of risks.

What’s your take on this shift? Have you seen a similar concentration in your book of business?

Read the full report here: https://lnkd.in/ewrnhNDt