Harvard Pilgrim exits commercial health insurance market from CT

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Harvard Pilgrim Health Care — the Massachusetts-based health insurer that entered the Connecticut market about a decade ago, hoping to gain market share by touting its not-for-profit model — is exiting the market from state commercial insurance, the Hartford Business Journal confirmed.

In an email Tuesday to insurance brokers and other stakeholders, Harvard Pilgrim said its parent company, Point32Health “has made the difficult decision to withdraw” the company’s fully insured commercial products, including small group plans, Connecticut effective January 1, 2023. .

About 12,000 members will be affected by the move, the company said.

“This decision was not made lightly and comes after a detailed, multi-year analysis of the employer-based commercial market in Connecticut,” the company said in a statement emailed to HBJ Tuesday evening.

Harvard Pilgrim last year finalized its merger with another Massachusetts-based nonprofit health insurer, Tufts Health Plan. The combined organization is known as Point32Health.

Point32Health said it will shift its Connecticut focus to its Medicare Advantage business through its existing partnership with nonprofit CarePartners of Connecticut.

CarePartners is a joint venture between Tufts Health Plan and Hartford HealthCare and offers Medicare Advantage plans to Connecticut seniors.

Point32Health said current Harvard Pilgrim commercial customers will continue to be covered until the end of their contracts.

However, effective immediately, Harvard Pilgrim will no longer quote or sell commercial products for new business.

Last year, Harvard Pilgrim moved its headquarters from Hartford to Rocky Hill.

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