Bryant said it's possible a third multi-state company, Highmark Blue Cross Blue Shield of Pittsburgh, could enter the state's marketplace, but he is unsure of the difference in premiums.
Bryant said it's difficult to look at competitors' prices and set premiums because it's a whole new marketplace, so the first year will be difficult.
"They can't turn anybody down or look at health status when writing a policy, so they're feeling their way through the dark," he said. "They're apprehensive, so hopefully after they see how it operates and see what competitors did the previous year, others will be interest and help contribute to more robust competition in the future."
Highmark will offer 11 different plans on the individual market and four plans in the small business marketplace, he said.
Winkenwerder said there are approximately 275,000 uninsured people in West Virginia and expects there to be some delays or glitches in the early phases of enrollment.
"We've been doing a lot to prepare to accept tens of thousands of new enrollees into the exchanges," Winkenwerder said. "This is a huge undertaking. There are hundreds of moving parts and a lot of complexity in detail necessary to implement the law as it is written."
"We are preparing diligently, and we are adding additional resources to help consumers through what could be challenging times and experiences."
Enrollment in the insurance marketplace, where residents will be required to purchase health insurance plans by the Affordable Care Act, is scheduled to begin Oct. 1 but coverage will start Jan. 1, 2014.
Under the new law, residents can't be turned down or charged more for health insurance because of pre-existing health conditions.
All individual and small group plans must offer a core set of 10 essential health benefits starting in 2014 - including doctor visits, hospitalization, emergency room care, prescriptions, mental health services and more.
Enrollment for health reform plans begins in October 2013, and extends through March 31, 2014. Individuals, families and small businesses without health insurance must have coverage by Jan. 1, 2014 or pay a government penalty.