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Thu September 26, 2013
For-Profit Insurer Leaves Idaho Exchange, Reducing Options
Idaho's insurance exchange lost its only for-profit health insurer, cutting nearly 10 percent of the marketplace's coverage offerings even before the Internet marketplace opens its doors Tuesday.
Altius Health Plans was slated to have 15 different policies on the Idaho exchange.
With its exit, only 146 health and dental insurance policies will be offered.
Altius' departure, coming after its parent company was purchased by insurance giant Aetna, cuts into one of the Idaho exchange's goals.
That's to offer as many choices to uninsured consumers as possible, to promote competition, reduce prices and raise service expectations.
Stephen Weeg, Idaho's insurance exchange board chairman, would have preferred Altius had stayed in.
Contacted this week, Aetna says it exited Idaho to concentrate on its most-competitive markets, but could return come 2015.