UnitedHealth to drop individual health plans in Missouri
There was no information on whether
The news comes after the
The insurer cited losses as a reason for exiting the individual exchange business. The online exchanges are a key component of the Affordable Care Act that allows consumers to buy and compare individual health plans online.
"I am providing you with this formal notice of our intention to effectuate an individual market exit effective
Current enrollees in
Health insurance broker
The letter says the exit will not affect other
Meanwhile, a UnitedHealthcare spokeswoman declined to say whether the company would exit the
Losing money
CEO
It's unclear how many individuals
However, a study this week by
The study also found that consumers in two counties --
Industry watchers say they expect other companies to also adjust their exchange participation as they put together their coverage plans for 2017. But they don't see
"I think insurers will have to become more selective in terms of which exchanges and how they participate, but by far and away I think the United move will be the biggest one this year," said Mizuho Securities Managing Director
Health insurers have faced several challenges in building their exchange business. Their initial wave of customers generated higher-than-normal claims in part because some of the uninsured had not used the health care system for years and were waiting for coverage to help pay for needed care.
Insurers also have struggled in many markets to add younger consumers who don't use as much health care and could balance those more expensive patients. Insurers say they also have been hurt by expensive patients who sign up outside regular enrollment windows.
The Associated Press and the
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