Exchange sign-ups are boost for MVP
CAPITAL REGION MVP Health Care has reported strong enrollment numbers in the state’s new health exchange.
The Schenectady-based health insurer says 29,000 new members signed up for MVP plans during the six-month open-enrollment period from October 2013 to March 2014. That figure, which reflects both on- and off-exchange enrollment as of April 11, is a fairly big boost for a company that was experiencing declining annual membership the past few years.
Meanwhile, 4,938 people enrolled in CDPHP health plans on the exchange during open enrollment.
MVP, which specialized in selling group insurance for many years, may have been helped by its acquisition last year of the Tarrytown-based Hudson Health Plan, which had a strong track record of enrolling individuals in its state-sponsored Medicaid Managed Care, Child Health Plus and Family Health Plus plans. The merger allowed the insurer to diversify its offerings on the exchange.
“MVP has done very well on the exchange,” said company spokesman Bob Knight. “They’ve made the right investments along the way.”
Last week, the state reported that more than 960,000 New Yorkers enrolled for coverage through New York State of Health, the statewide health exchange established under the Affordable Care Act. More than 435,000 New Yorkers enrolled with one of the exchange’s 16 private insurers while more than 525,000 enrolled with Medicaid.
Open enrollment for 2014 ended in March, but the deadline was extended a few weeks into April for people who began the application process but didn’t finish by the March deadline.
At the end of 2013, MVP had more than 700,000 members across New York, Vermont and New Hampshire, boosted in part by the 125,000 members enrolled with Hudson Health Plan. Prior to the acquisition, MVP had been experiencing membership decline.
Albany-based health insurer CDPHP had 447,519 members at the end of 2013.
Both local insurers say they worked around the clock to accommodate people trying to enroll just before the March 31 deadline.
President Obama last week announced that more than 8 million people had signed up for insurance through both state and federal exchanges under the Affordable Care Act.