Why American family insurance isn’t as competitive as expected? | The Jerusalem Times
The American family insurer, AmeriHealth, announced on Thursday that it will offer an open source version of its online insurance product, which will be available in a handful of markets starting later this year.
The company’s chief executive, Dan Jaffe, said in a blog post that the open source product, called FamilyCare, is aimed at improving the affordability and quality of coverage in markets that are often overlooked.
Jaffe also said the new product will be able to offer greater flexibility in offering a wide range of insurance plans.
The open source FamilyCare insurance plans will be comparable to the most expensive plans offered by private insurance companies, such as Aetna, Cigna and Humana.
Jaffe said that the new open source insurance product will offer a wide variety of options, including lower premiums, lower deductibles and higher out-of-pocket costs.
The product is being offered in New York, Maryland, Delaware, New Jersey, Rhode Island and Connecticut.
The launch of the open-source version of FamilyCare will be similar to that of its own plans, which were developed with the help of a large group of consumers, Jaffe said.
He noted that the American family policy market has been fragmented for decades.
In the United States, for example, more than 40 percent of people are covered through employer-sponsored insurance, but only 10 percent of those people have employer-provided coverage.
Jafafas family insurance product is a product that can be used by individuals who are looking for more flexibility in terms of choosing a plan.
The plan will be offered in an affordable and comprehensive manner, he said.
While the company is offering a product based on a single insurance company, it has a long history of working with other insurance companies and plans, including those of Aetana, Citi, Humana, Independence Blue Cross, Kaiser Permanente and UnitedHealthcare, among others.
FamilyCare is also one of the largest insurance offerings in the country, according to a 2014 survey by the National Association of Insurance Commissioners.