Largest U.S. Health Insurer Pulls Out Of Health Exchanges In Georgia, Arkansas
The move follows reports and complaints that insurance companies are struggling to make a profit by selling plans under the Affordable Care Act.
Bloomberg:
UnitedHealth Quitting Obamacare Markets In Georgia, Arkansas
UnitedHealth Group Inc., the largest U.S. health insurer, has decided to call it quits in two state Affordable Care Act markets in the latest challenge to President Barack Obama's health-care overhaul. The insurer won't sell plans for next year in Georgia and Arkansas, according to state insurance regulators. Tyler Mason, a UnitedHealth spokesman, confirmed the exits and declined to say whether the company would drop out of additional states. Many insurers have found it difficult to turn a profit in the new markets created by the Affordable Care Act, where individuals turned out to be more costly to care for than the companies expected. (Tracer, 4/9)
The Fiscal Times:
UnitedHealth Makes Good On Threat To Pull Out Of Obamacare
The Affordable Care Act suffered another jolt late last week with the news that UnitedHealth Group, the nation’s largest health insurer, was making good on its threat to pull out of Obamacare, beginning with its operations in Georgia and Arkansas. ... This development is troubling, especially if it UnitedHealth pulls out of other bigger states, or if other major insurers such as Aetna and Anthem follow suit. But experts have cautioned not to make too much of UnitedHealth’s flight from the market. While it is one of the largest insurers on the national scene, UnitedHealth nonetheless is a bit player in Obamacare and holds a much smaller market share than other rivals like Aetna and Blue Cross Blue Shield. (Pianin, 4/10)
Georgia Health News:
United Quitting Georgia Exchange For Next Year
UnitedHealthcare will not offer any health plans on Georgia’s insurance exchange in 2017, state officials say. The giant Minnesota-based health insurer also said this week that it will pull out of Arkansas’ exchange for next year. ... UnitedHealthcare is the only company so far that has informed Georgia’s insurance department that it won’t be participating in the exchange next year, Glenn Allen, a department spokesman, said Friday. The company is one of nine offering plans in Georgia’s exchange this year. Under the Affordable Care Act (ACA), all states have exchanges — most of which are federally run — that help consumers find and buy health coverage. (Miller, 4/8)
