How to pay for your own health insurance coverage
Amex has announced plans to let consumers buy insurance through its health insurance exchange as the Trump administration continues to try to dismantle Obamacare.
The announcement Monday is part of the company’s efforts to reassure investors that it will be able to keep selling insurance through the new marketplaces even if the government eventually ends the subsidies.
Amex will begin selling individual health insurance through HealthCare.gov in three phases starting Oct. 1.
In phase one, it will offer coverage through a network of regional insurers.
In phase two, the company will sell individual health plans through its regional health insurers.
In Phase three, it would expand its network of insurers to include other plans that offer the same level of benefits.
The new health insurance marketplace will be managed by the Federal Trade Commission and the Department of Health and Human Services.
Amex is the only major U.S. health insurer to be part of this plan, though other major insurers are in the process of creating their own health exchanges.
Amox’s announcement comes as a new administration tries to dismantle the Affordable Care Act, which has been the subject of fierce opposition from conservatives and insurers.
The Trump administration is moving to cut off payments to insurers and dismantle the subsidies that help low-income people afford coverage.
Amox has already signaled that it could stop selling insurance plans that are not offered through the exchanges, and has threatened to withdraw from the exchanges if the subsidies are eliminated.
The U.K.-based insurance giant said it would stop selling individual and family policies through its insurance marketplace.
The announcement comes just a day after it announced that it would continue to sell health insurance in the United Kingdom.