PacificSource Health Plans, one of only three primary health insurers operating in Montana, has announced it will shut down its Montana operations and exit the insurance marketplace entirely by the end of the year — a move that will force thousands of Helena-area residents to find new coverage before the next enrollment period.

PacificSource has been one of the few carriers offering individual and small-group plans in Lewis and Clark County, a market that was already thin before this announcement. The company framed the decision as necessary to protect its broader mission and continue serving members in other states, but offered little detail about what specifically drove the Montana exit.

For Helena residents who carry PacificSource plans — whether through the individual marketplace, a small employer, or a state exchange plan — the clock is now running. Affected policyholders will need to select a new insurer during a special enrollment period, the timing of which has not yet been announced by state regulators. Montana's Commissioner of Securities and Insurance will likely play a central role in managing the transition and ensuring continuity of care for current members.

With PacificSource gone, Montana's individual insurance market shrinks to two primary carriers. That concentration raises real questions about competition and pricing heading into 2025 open enrollment — questions that land especially hard in a state where healthcare cost is already a top concern for voters heading into the midterms. Helena residents with PacificSource coverage should contact their insurer or a licensed broker now, well before the end-of-year deadline, to understand their options.