Humana is picking up its marbles and going home, announcing that it will no longer participate in the ACA exchanges. And maybe it’s completely justified in doing so. The question other health plans will ask: Was this an unavoidable move given the tenuous outlook for the ACA and the present reality that some insurers are losing money in Obamacare? It looks ominous, that’s for sure. The company is the first major insurer to cast a “no confidence” vote for the ACA, the New York Times reports.
President Trump sounded off on Twitter. “Obamacare continues to fail. Humana to pull out in 2018. Will repeal, replace & save healthcare for ALL Americans.”
As the Times reports, more and more insurers are looking askance at the ACA, and not only because younger, healthier people are not signing up as much as hoped, and thereby broadening the risk pool. Trump and Republicans have vowed to repeal and replace, but have yet to produce a concrete description of exactly what will take Obamacare’s place.
“Several major insurers have said they cannot begin to decide whether to offer coverage next year until the government clarifies if and how it plans to change the rules,” the Times reports.
As the newspaper points out, while Humana is a major insurer it is not a major presence on the exchanges, participating in only 11 states this year. Still, Humana’s complaint echoes those of Aetna and UnitedHealthcare, which have also scaled back. They aren’t making enough money to want to stay in the exchanges.
Source: New York Times