Humana is pulling out of the individual insurance marketplace in
With the closure of Arches Health Plan last year, that leaves
A representative from Humana declined to comment, noting that it is "long-standing practice" not to disclose details of its plan offerings "while still under review by regulatory agencies."
According to the department, Humana currently covers about 9,000 of the 164,400 Utahns on the federal marketplace. Its exit will leave residents in
Humana will continue to sell in the small group market, according to Gooch.
Meanwhile, 20 out of 29 counties in
Nationwide, the withdrawal of major carriers like
Critics have pointed to the announcements as growing evidence that the Affordable Care Act is failing.
But proponents of the health care law, like
Stevenson noted that most of the insurers who have quit are large, multistate carriers that specialized in employer-sponsored plans - like Humana. Local players like
"There are insurance companies that are succeeding and there are insurance companies that are taking their business elsewhere," Stevenson said.
He added: "The previous way we did health insurance was keeping all the sick people out and letting all the healthy people in. Insurance companies are now paying the price for fixing that legacy."
He said that Molina's experience in covering low-income families - the very people who are most likely to seek out plans on the healthcare.gov exchange - helped them succeed.
"We didn't take the approach that other insurers did," Patton said. "We started small in
Stevenson said Humana likely underpriced its plans in
"They went for cheap and efficient, but somehow they still didn't make money," he said.
However, predictions that premiums will rise again next year are already starting.
That's looking likely in
In a press call on Wednesday, federal officials reminded people that most individuals who shop around are usually able to find a plan for around the same price as their previous one.
About 88 percent of
Stevenson predicted premiums will stabilize in 2017, although he acknowledged that the Affordable Care Act hasn't created as much competition as people hoped.
"We like to see more competition," Stevenson said. "We like to see plans stay in
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