As open enrollment draws to a close at the end of this month, Louisville, Ky.-based Humana said it likely won't collect enough money to cover the cost of individual plans, according to Crain's Detroit Business.
In November, UnitedHealth Group said it may exit the exchanges for 2017 due to financial losses. Less than a month later, Cigna CEO David Cordani said the insurer also didn't make any money on the exchanges in 2014 or 2015.
Humana's enrollment numbers are varied. Although its individual Medicare Advantage plans will gain between 100,000 and 120,000 new members, its group Medicare Advantage plans will likely lose 120,000 to 125,000 members in 2016, according to the insurer. Humana also expects its commercial membership plans to decline by 200,000 to 300,000 by the end of the year.
More information will be available when Humana's fourth quarter earnings are released Feb. 10, according to the report.
Nonetheless, some analysts are seeing Humana's losses and the departure of other insurers as foreshadowing the company's exit from the marketplace. "We expect Humana will exit health insurance exchange marketplaces in 2017 in light of this data and focus on its Medicare Advantage book of business," said Ana Gupte, PhD, managing director of healthcare services with New York City-based Leerink Partners, according to the report.