Health insurer PreferredOne has decided not to continue offering coverage through Minnesota's Patient Protection and Affordable Care Act exchange, MNsure, in 2015.
More than half (59 percent) of individual market exchange enrollees are covered by MNsure, according to a KSTP report. A spokesman for the health insurer told KSTP participating in the exchange is "not administratively and financially sustainable."
All state exchange enrollees currently covered by PreferredOne will still have their health plans until the end of 2014. They will be able to review their options and shop for new health plans during the upcoming open enrollment period for 2015, which starts Nov. 15. MNsure will send more information about next steps to PreferredOne exchange enrollees in early October.
In a joint statement, MNsure CEO Scott Leitz and PreferredOne CEO Marcus Merz said that consumers seeking coverage through the exchange will have at least four well-known insurance carriers as options and that the exchange and PreferredOne "will work closely to minimize impact to current enrollees."