Dive Brief:
- New Mexico health insurance exchange beWellnm is losing its CEO of two years, Amy Dowd, who previously came from Idaho’s health insurance exchange.
- Dowd is resigning in order to work for California-based Molina Healthcare, which as of March, covered 40% of those enrolled in New Mexico health insurance exchange plans, the Santa Fe New Mexican reported, noting that's the largest coverage share of any of the four carriers currently offering beWellnm plans.
- Dowd's departure leaves the exchange working on a transition plan during the critical approach to the open enrollment period for 2017.
Dive Insight:
Dowd's move takes her from one hot spot to another. As New Mexico Insurance Superintendent John Franchini put it for the Santa Fe New Mexican, “She’s gone from the frying pan to the fire,” adding that she had been "an excellent, excellent leader in this tumultuous industry.”
Molina has had a mixed year though it was known for making a profit on the ACA exchanges in 2015. While its 2016 first quarter was "dismal," leading to a late April stock crash, it beat expectations for its second quarter but still reported lower overall net income, Modern Healthcare recently reported.
Exchange officials said they were confident beWellnm will weather the transition and continue to serve the state through the fourth upcoming enrollment period. Dowd is slated to remain at the exchange until its next next board meeting on Sept. 16.
Dowd was both credited, and earlier criticized, over her decision to have the state use the federal exchange platform rather than create an original one, which is reported to have saved the state an estimated $20 million.