The argument contrasts with many other insurers’ explanations for abandoning the Affordable Care Act exchanges. Plans such as Humana and UnitedHealthcare left many state’s ACA exchanges to stem significant losses from taking on less healthy members than anticipated.
But a BHP spokesperson told Insider Louisville the insurer recorded losses despite having a healthy membership because of large payments it owed the federal government under the ACA’s risk adjustment program.
Other small regional and nonprofit health plans have issued similar complaints.
BHP revealed it would not offer plans in 2017 on Oct. 4.
More articles on payer issues:
Affinity Health resolves agreement with Cigna
Blue Shield, NorthBay Healthcare spar over contract issues
One-fourth of Americans know uninsured rate is at historic low
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