Humana, one of the nation’s top health insurers, is pulling out of ObamaCare plans in all but a handful of states after a year of nearly $1 billion in losses. The company plans to exit nearly half of the markets next year, it announced during an earnings report Thursday. It will take part in “no more” than 11 state marketplaces, down from 19 states this year, the company said. (Ferris, 7/21)
The decision means the company will only offer individual plans in 156 counties in 11 states, down from 1,351 counties across 19 states this year. It had sold plans on Affordable Care Act exchanges in 15 states this year. Humana would not provide a breakdown of how many ACA exchanges it was leaving, or identify which ones. But a spokesman said the carrier was pulling out of states where it had a very limited presence. (Karlin-Smith, 7/21)
Humana isn’t the first insurer to announce plans to withdraw from insurance markets ahead of the upcoming open enrollment period. UnitedHealth, the country’s largest insurer, also announced plans earlier this year to withdraw from most insurance markets. (McIntire, 7/21)
After three years of tech problems, paltry enrollment and insurer dropouts, Minnesota’s Obamacare exchange is still struggling. And the future of one of the country’s most troubled exchanges may depend on down-ballot races in a turbulent election year. Republicans, who have long criticized mismanagement of the exchange, are hoping to seize on its troubles to win full control of the Legislature this November and scrap the state-run marketplace entirely. Democratic lawmakers, meanwhile, hope to win back the Legislature and push through legislation to shore up the marketplace known as MNsure. (Demko, 7/21)
