State adding second insurer to individual insurance market

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Monday, August 26th, 2019 1:49pm

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Juneau, Alaska (AP) - The state says a second company will offer health insurance plans on Alaska's individual marketplace next year.

Division of Insurance Director Lori Wing-Heier says Moda Assurance Co. will join Premera in offering plans through the federally-facilitated marketplace.

Moda was suspended briefly in 2016 from offering health insurance policies in Alaska over concerns with its financial condition. Moda left the Alaska individual marketplace beginning in 2017.

Wing-Heier says an agreement between Moda and Delta Dental of California negated any financial concerns the division may have had with Moda's return. Delta Dental in February said it was investing $152 million for a 49.5 percent stake in Moda.

Messages were left with a Moda spokesman Monday.

Wing-Heier says about 16,600 Alaskans are enrolled in the individual market through the exchange.

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