Health-insurance expert: ‘Prices will go up’ if UnitedHealthcare exits Obamacare
On the heels of UnitedHealthcare CEO Stephen Hemsley’s admission his company, the largest health-insurance provider in the nation, may pull out of the Obamacare exchanges, families across the country are wondering what will happen to their health-insurance premiums – and it’s not going to be a pretty picture, according to one expert.
Fox News has the details:
Because UnitedHealth is the nation’s largest health insurer when measured by revenues, any action it takes when it comes to the ACA exchanges is bound to have repercussions.
Echoing the thoughts of many in the industry, Samuel Gibbs, executive director, of AgileHealthInsurance.com, said, “The bottom line is that prices will go up. United is a large carrier with a broad network. If they go away, choices will be fewer and premiums will be higher.”
His company studied the impact of UnitedHealth on exchange pricing and found that in counties where it sells the least expensive option, premiums for the lowest cost plans would increase 6 percent. Unsubsidized customers would find their costs rising 19 percent.
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