Molina Healthcare to exit ACA exchanges in Utah, Wisconsin

Molina Healthcare Inc. said Wednesday it will exit the Affordable Care Act's insurance marketplaces in Utah and Wisconsin by the end of this year, citing costs that contributed to hefty losses for the health insurer in the second quarter.

The Long Beach, California-based company also expects the performance of its remaining ACA marketplaces will fall substantially short of previous expectations in the second half of the year.

Its withdrawal from the ACA public exchanges in Utah and Wisconsin comes ahead of a September deadline for insurers to pull out of the markets or commit to participating in the exchanges in 2018.

Steep losses have prompted some health insurers to back away from ACA public marketplaces. Read more on Colorado Springs Gazette