By Annette Boyle
UnitedHealth Group will not participate in New Jersey's Affordable Care Act health insurance exchange in 2017, bringing to 27 the number of state marketplaces the large insurer has departed, according to Bloomberg.
In April, UnitedHealth CEO Stephen Hemsley said the company would leave Affordable Care Act marketplaces in all but "a handful" of states in 2017, though it did not say which ones. By Bloomberg's count, the insurer will be withdrawing from at least 27 of the 34 states in which it sold ACA plans in 2016.
New York and Nevada have confirmed United will remain on their exchanges and Bloomberg says the company has filed plans to participate in the Virginia marketplace in 2017.
Other major insurers are evaluating their ongoing participation in the ACA marketplaces, as Humana has announced that it plans to withdraw from some states. Meanwhile, the withdrawal of some insurers from the exchanges in Alaska, Alabama and Wyoming have left those states with just one marketplace insurer in 2017, stoking concerns about what would happen if an exchange ended up without no insurers.
As for New Jersey, four other insurers--Oscar Insurance Corp., AmeriHealth, Health Republic Insurance of New Jersey, and Horizon Blue Cross Blue Shield of New Jersey--participated in the state's exchange last year, according to the article.
To learn more:
- read the article
CEO Stephen Hemsley: UnitedHealth will exit all but a few Affordable Care Act exchanges
Humana mulls exit from some ACA marketplaces
What would happen to a state exchange with no insurers
UnitedHealth's state exchange exits: No big deal?