CHICAGO (AP) — Only six insurance carriers have told Illinois that they want to sell health coverage through the state's new Patient Protection and Affordable Care Act (PPACA).
The carriers hope to sell 165 policies -- or "qualified health plans" (QHPs) -- through the exchange, but the numbers are far lower than expected.
The carriers may participate in the marketplaces in their core customer states, bypassing other states in the first year, he said.
Insurers are concerned, in part, that people who have expensive medical conditions will sign up immediately for coverage through the exchanges, while healthier customers will wait. That could leave an insurer, at least initially, without enough premium revenue to handle the medical bills it receives. They're also concerned about how fees and coverage restrictions mandated by the law will affect the profitability of their plans.
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