Friday, July 22, 2016

Health insurer Humana to exit 'substantially all' ObamaCare markets citing $1 billion in losses-The Hill

7/21/16, "Humana to leave 'substantially all' ObamaCare markets," The Hill, Sarah Ferris

"Humana, one of the nation’s top health insurers, is pulling out of ObamaCare plans in all but a handful of states after a year of nearly $1 billion in losses.
Another of those top five, UnitedHealth Group, announced earlier this year that it would be pulling out of most ObamaCare marketplaces, citing its own financial losses.

Humana had already shown signs of its struggle with ObamaCare, announcing this year it would pull out of at least two states.
In the earnings report released Thursday, officials underscored the sharp declines in healthcare premiums from the exchanges. The company expects to pull in between $750 million and $1 billion in premiums this year, compared to $3.4 billion projected over the last year.
Humana officials said in a statement that the changes will help the company "retain a viable product for individual consumers and address persistent risk selection challenges.”"


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