UnitedHealthcare is kissing the Obamacare marketplace goodbye
UnitedHealthcare, with the exception of a few states, is exiting the Obamacare marketplace in 2017, the CEO announced Tuesday.
The announcement, made by CEO Stephen Hemsley on an earnings call, follows up on the company’s statement in November that it was considering dropping out of ObamaCare due to financial losses.
The moves by UnitedHealth, the nation’s largest health insurer, have drawn attention for what they could indicate about the sustainability of ObamaCare as a whole.
The Obama administration has downplayed the importance of UnitedHealth, saying the insurer is a fairly small player in the marketplaces, with about 6 percent of all enrollees. The insurer’s coverage was often not priced competitively, officials have said.
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