UnitedHealth Leaving Golden State’s Covered California
The biggest health insurer in America, UnitedHealth is abandoning several U. S markets and is planning to sell full plans in only three of the U. S states, Virginia , Nevada and New York.
In April, without giving out much detail, the insurer announced that it is planning to ditch most but a "handful" among the thirty six statewide individual insurance marketplaces in which it already operates and sells Affordable Care Act plans.
Reportedly, the company will provide limited offerings in three more states through a subsidiary in 2017, that's Georgia, Illinois, and Florida.
One of the departures that really stand out is from the Golden State; Covered California. However, that does not make a big difference because majority of California's Obamacare marketplace is taken up by Anthem Blue Cross, Blue Shield of California, Kaiser Permanente, and HealthNet.
UnitedHealth is gathering losses for its Obamacare individual plans though it is one of the most dominant in bigger group and employer insurance sector.
Other insurers like Humana are also thinking of departing from some of the health law exchanges as uncertainty in fiscal and regulatory moves loom large. Others, such as Anthem and Aetna are planning to be in the market with some planning a raise in premium in 2017.
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