Humana First Insurer To Quit ACA Marketplaces Amid Uncertainty Of Health Law’s Future
President Donald Trump and other opponents see the decision as a sign that the Affordable Care Act is failing, but many insurers cite the murkiness of the Republicans' plan for dismantling the legislation as a reason to be skittish about the marketplaces.
Los Angeles Times:
Amid Obamacare Uncertainty, Insurance Giant Humana Plans To Leave Marketplaces In 2018
Humana Inc., one of the nation’s largest health insurers, will stop selling Obamacare health plans next year, the company announced Tuesday. The move threatens to rattle jittery insurance markets and further complicate Republicans’ push to repeal and replace the Affordable Care Act. The company attributed its action to mounting losses caused by sicker-than-expected consumers. It is the first major insurer to pull back completely amid the mounting uncertainty over the GOP’s still undefined healthcare plans, though other leading health plans have exited marketplaces over the last year, citing losses. (Levey and Petersen, 2/14)
In other marketplace news —
The Associated Press:
2 Big Insurance Breakups On Valentine's Day
It was a rough day for the already-roiled U.S. health insurance market: One giant merger was abandoned, another is threatened by infighting, and a major insurer announced it will stop selling coverage on public exchanges in 11 states. Both merger deals had already been rejected by federal regulators and judges, but the companies were considering appeals to those decisions. Now they both appear to be off. (Murphy, 2/14)