Health insurers UnitedHealthcare and Cigna have decided not to participate in the new health insurance exchanges in Pennsylvania and New Jersey, according to a Philadelphia Business Journal report.
UnitedHealthcare said in a prepared statement it had opted not to sell coverage through the Pennsylvania exchange to honor its commitment to existing enrollees in the area.
UnitedHealthcare has also opted out of exchanges in other states such as Wisconsin, Missouri and Arizona. In July, UnitedHealth announced that it would withdraw from California's individual market entirely at year-end.
UnitedHealth CEO Stephen Hemsley said at an investors meeting earlier this year that the company — the nation's largest insurer — will sell plans in only 12 state health exchanges, based on the risk that the first wave of customers on the exchanges will be those who need coverage the most and have the most expensive care needs.
Cigna isn't taking part in the exchanges in New Jersey and Pennsylvania because most of its plans are group plans, company spokesman Joseph Mondy told the Journal. Cigna has also opted out of Missouri's exchange.
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UnitedHealthcare, Cigna Won't Participate in Missouri's Health Exchange