Progressive commercial insurers are starting to make some progress.
But they’re still far from being able to compete in a truly universal way.
As one of the world’s largest commercial insurers, Progressive is the biggest beneficiary of a landmark health care reform law known as Obamacare.
As of April 1, 2020, Progressive’s network of commercial insurers is covering more than 100 million people in more than 200 countries.
But even though the company’s coverage of the United States is expanded by more than 60% since January 2020, it’s still less than a third of the coverage available to its other competitors.
“We’re still a small, little company,” said Eric Crampton, CEO of Progressive.
“Our network has a huge number of small insurers that are competing.
So we’re not at the point where we’re competitive with our competitors.”
Progressive’s first attempt at universal coverage in 2020 was in India.
Its new commercial coverage covers about 70 million people.
But the company was only able to cover about 20% of those people, and it was unable to enroll them in a national insurance plan.
By contrast, the Affordable Care Act offers subsidies to help people pay for private insurance, which in many cases can be as much as 70% of their income.
“There’s been an enormous increase in the number of Americans who have health insurance through the Affordable Health Care Act,” Cramton said.
“I think we’ve been a little bit slow to realize that.”
Progressive is in the midst of expanding its network of more than 700 commercial insurers in the United Kingdom, Australia, Canada, India, Singapore, the United Arab Emirates, and New Zealand.
But despite that success, CramTONS experience in the global market has been limited.
“The reason that we haven’t been able to build up a universal coverage platform in the U.S. is that we’re trying to do that in the way that we think best,” he said.
Progressive is still in the process of working with the U, S, and Canada to make sure that the Affordable Healthcare Act is fully implemented, and that they have the necessary regulatory frameworks to create universal coverage.
“What we’ve done is we’ve worked with the insurers to get the framework right,” Crapton said, “and we’re working with them to make that happen.”
He also said that the company is working with other insurers to offer universal coverage to their existing customers.
Progressive also launched its universal coverage website in January 2021.
It’s still in beta, but Crampson said that he’s hopeful that it will be rolled out by the end of the year.
Progressive plans to continue to expand its universal insurance coverage by expanding its coverage in other countries and developing a universal database that includes data from all of its commercial insurance plans in the country.
The company is also developing a tool that can help other insurers evaluate their coverage to see how well it’s working for them.
Progressive’s new universal coverage is part of a broader strategy to bring down costs and improve efficiency in the insurance industry.
It also aims to provide affordable coverage to more people by developing an online health plan that is based on the Affordable Access Medical Insurance Program, or ACA, which is the law that established the Medicaid program for low-income people.
“It’s important that we build the universal coverage that will make it easy for people to get coverage and we can make sure our premiums don’t go up too much,” Crayton said of the ACA.
“When you go to a pharmacy and you’re asked for a prescription, you have to go to the pharmacist and pay for it yourself.
We don’t want to do the same thing with our consumers.
We want them to go directly to the insurance company.”
CrayTONS universal coverage will be offered on a number of different plans, but it’s likely to be the first of its kind.
It will include the following features: All health insurance coverage, with no out-of-pocket costs.