UnitedHealth Group has decided to pull out of the Affordable Care Act exchange in Michigan in 2017, marking the third state where the health insurer will stop offering ACA plans, according to The Wall Street Journal.
A spokeswoman for the Michigan Department of Insurance and Financial Services, Andrea Miller, told WSJ that UnitedHealth planned to exit the individual marketplace in the state, and a UnitedHealth spokesman confirmed.
The Michigan move comes after the health insurer said it will stop selling ACA plans on the exchanges in Arkansas and Georgia in 2017.
UnitedHealth began signaling it may pull out of state marketplaces last November. At that time, the health insurer lowered its profit estimate for 2015 and blamed an expected loss on selling individual policies on the ACA exchanges for the lower estimate. In January, UnitedHealth said it lost $720 million nationally on its individual market plans in 2015.
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