Lexington, Ky.-based payer Baptist Health Plan will withdraw from Kentucky's 2017 individual health insurance market, Louisville Business First reports.
Baptist Health Plan President James Fritz announced the insurer's pullback in a letter to Kentucky insurance Commissioner Brian Maynard. Mr. Fritz said while Baptist Health Plan had more 2016 individual market enrollees than expected, federal risk assessments under the Affordable Care Act were "unsustainable."
About 7,000 policyholders with on and off exchange individual plans will be affected, according to the report. Fifty-nine counties in Kentucky will now have only one on exchange health plan option for open enrollment 2017.
More articles about payer issues:
Tenet Healthcare cuts ties with Humana
Minuteman Health co-op taps Zipari search solution
5 things to know about 2017 UnitedHealthcare Medicare products