Proponents of buying health insurance across state lines thinking it would make more competitive health insurance rates across the country and allow consumers to save the money buying more affordable plans.
There are currently three states that have passed laws that intend to allow the outside of the health insurers to offer policies to residents, including Rhode Island, Wyoming and Georgia.
Georgia passed the law there almost exactly a year and many are considering whether a failure.
Why?
Not an out-of-state health insurer sought to offer plans in Georgia since the law was adopted in 2011. Instead health insurers floods in Georgia to offer plans in the state many are jumping at the opportunity.
The reasons for the lack of interest could be mainly due to the fact that many health insurance companies are waiting until the Supreme Court rules on health care reform health. Instead of acting, many health insurers seem to be in a holding pattern.
Another issue could be that health insurers are not interested in joining the market, spend money on advertising in a state where they are not present and trying to maintain certain ratios medical loss (MLR), as defined by the ACA. All this requires a lot of work and planning at a time when many health insurance companies are just trying to follow the rules and deadlines ACA.
Although experience is interesting in Georgia, Georgia may have adopted the law at the wrong time. Anyway, maybe the health insurers will join the market in the future and provide the residents of Georgia another source for health insurance.
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