NEWPORT NEWS, Va. — A company that offers individual health insurance plans in Virginia says it’s scaling back while raising rates next year.
The Daily Press in Newport News reports that Optima Health made the decision as the future of the Affordable Care Act remains uncertain. Three other insurers recently announced they’re pulling out of Virginia’s individual market.
Optima reversed plans to sell individual plans in the Richmond, Danville and Bristol areas. It will remain in the Hampton Roads region and other markets, including Harrisonburg.
Optima will also raise individual premiums by an average of nearly 82 percent. The government will pick up most of the increase for customers who receive subsidies through the Affordable Care Act. That amounts to about 70 percent of the people who buy individual plans from Optima.
Information from: Daily Press, http://www.dailypress.com/