Blue Cross Blue Shield, Pacific Source, and Montana Health CO-OP to sell plans through online marketplace
HELENA, Mont. – Montana Insurance Commissioner Monica J. Lindeen today announced that three health insurance companies intend to sell health insurance through the federal insurance marketplace in Montana.
Blue Cross Blue Shield of Montana, PacificSource Health Plans, and the Montana Health CO-OP filed paperwork with Lindeen’s office to sell products on the marketplace. Blue Cross Blue Shield of Montana also submitted forms for a multi-state plan, a unique product developed under a contract with the federal government.
All Montana health insurers intending to sell insurance in the marketplace were required to file their forms with Lindeen’s office by May 15th. In August, insurers will make final commitment to sell insurance on the marketplace.
“The goal of the federal marketplace is to ensure competition on a level playing field in health insurance. It’s good to see companies new and old getting ready to compete for Montanans’ business,”said Lindeen.
Created under the Affordable Care Act, the federal health insurance marketplace is a website where individuals, families, and small businesses can shop for private health insurance. The marketplace is designed to create competition, transparency, and easy access to health insurance for consumers.
The marketplace is slated to open in October 2013, allowing Montanans to search for products with coverage beginning January 1, 2014. Federal tax credits and cost-sharing subsidies based on household income will be available to Montanans who purchase their insurance through the marketplace.
Lindeen’s office is charged with reviewing forms for all insurance products sold in Montana, including those sold through the federal marketplace. For more information on the health insurance marketplace, visit HealthCare.gov or contact the Commissioner’s office at (800) 332-6148.