Due to extreme financial losses, the health insurance giant will only offer ACA plans in Nevada, New York and Virginia next year.
The pullback comes as no surprise. In April, CEO Stephen Hemsley said UnitedHealth will exit most ACA exchanges in 2017 and remain only in a “handful” of states. Since then, the insurer has announced its departure from a seemingly never-ending slew of states: Illinois, California, New Jersey, Arkansas, Georgia, Michigan, Connecticut, Iowa, Maryland, Indiana and most recently, Wisconsin, according to the Milwaukee Business Journal.
Despite its exit from state marketplaces, UnitedHealth’s Harken Health subsidiary will continue to stay on the ACA exchanges in Illinois and Georgia and will expand to Florida in 2017, according to the report.
More articles on payer issues:
Ark. governor requests federally supported state-based healthcare marketplace for individuals
Bon Secours launches insurance network
Insurers in the news: May 26-June 2
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