Humana is completely pulling out of the Affordable Care Act (ACA) market.
According to a news release on Tuesday the company will pull all of its business from the individual marketplace starting January 1, 2018.
The move comes the same day that Humana and rival Aetna terminated their merger agreement.
Humana said it was hoping that the individual marketplace would stable, but based on new data from its 2017 enrollment on the exchanges that does not seem to be the case. From Humana’s press release (emphasis added):
“All of these actions were taken with the expectation that the company’s Individual Commercial business would stabilise to the point where the company could continue to participate in the program. However, based on its initial analysis of data associated with the company’s healthcare exchange membership following the 2017 open enrollment period, Humana is seeing further signs of an unbalanced risk pool. Therefore, the company has decided that it cannot continue to offer this coverage for 2018. Through the remainder of 2017, Humana remains committed to serving its current members across 11 states where it offers Individual Commercial products.”
More to come…