(Indianapolis) – Jan. 25, 2024 – Indiana Farm Bureau Health Plans, a suite of more affordable health care offerings, today announced it had over 4,150 active plans in place at year-end 2023 – a growth of more than 30% from 2022. The plans, which are a product of Indiana Farm Bureau, now cover more than 8,800 Hoosier lives.
While more urban areas, such as Hamilton, Marion, Hendricks, Lake and Vigo counties, had the greatest number of enrolled plans in 2023, counties in rural areas saw significant growth over the past year. Most notably, Huntington, Martin and Miami counties all had year-over-year growth rates of over 75%.
“INFB Health Plans was created to address a significant need: providing our members with more affordable, reliable health care,” said INFB President Randy Kron. “We are pleased to see growth in these areas because it means we are accomplishing exactly what we set out to do and making a real difference for rural families across the state.”
Counties on the southeastern border of the state – Dearborn, Ohio and Switzerland counties – saw a combined average year-over-year growth of 64%. Additionally, the southwestern border – Posey, Vanderburgh and Gibson counties – saw a similar trend with a combined average 40% increase year-over-year.
“The increase in plans along portions of the state border could be attributed to the availability of nationwide in-network providers via UnitedHealthcare, which allows members to cross state lines to receive the appropriate medical treatment without fear of being out-of-network,” said Steve Allen, INFB Health Plans manager.
Additionally, about 37% of those applying to INFB Health Plans are new INFB members, which highlights the continuing need for affordable health care.
“The fact that over a third of all new plan holders are new to Farm Bureau shows that the need is still there and that INFB Health Plans is a major component for new members when they join INFB,” Allen noted.
For the first time since inception, INFB Health Plans did see a rate increase of 12% for Traditional Health Plans, specifically the Classic and Advanced Choice plans.
“The rate increase is due to an uptick in the number of high-limit claims,” Allen explained. “INFB Health Plans’ rate increase is on par with rate increases from other health care offerings on the market. However, our rates remain lower and very competitive to other plans offered.”
To learn more about INFB Health Plans and apply for coverage, please visit www.INFBhealthplans.com.
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About Indiana Farm Bureau Health Plans: Founded in 2020 by Indiana Farm Bureau (INFB), Indiana Farm Bureau Health Plans (INFB Health Plans) is a suite of health care offerings designed to provide more affordable and reliable benefits for its members. INFB Health Plans features Individual and Family Plans, Medicare Supplement Insurance Plans and dental/vision coverage. Learn more at infbhealthplans.com.