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July 25, 2013 at 12:32 PM
Executives at Assurant Inc. and Health Net Inc. shed some light on their plans for handling the health market changes set to take effect in 2014 under the Patient Protection and Affordable Care Act.
During a company earnings call Thursday, Assurant said they will wait until at least 2015 to try to get onto any PPACA exchanges.
Despite not selling coverage through the exchanges, they are involved in other PPACA aspects, such as educating their clients about the law.
The company’s Assurant Health unit has been active in the PPACA inoculation market.
Assurant Health sells individual and small-group health insurance throughout most of the United States.
The company said they are giving customers a chance to buy new products, or renew existing products, in ways that can lock in 2013 market rules until December 2014. That’s because, executives said during Assurant’s earnings call, that many customers are seeking clarity.
Assurant — which gets only a small part of its business from the sale of health insurance — is reporting $134 million in net income for the second quarter on $2.2 billion in revenue, compared with $169 million in net income on $2.1 billion in revenue for the second quarter of 2012.
Assurant Health’s net earned premiums, fees and other revenue fell 2 percent, to $403 million, but new sales were up 35 percent. The company did not give a dollar figure for new health insurance sales, and it did not release enrollment data.
