HEALTHCARE/OBAMACARE(ACA)/PHARMA: “Humana Inc., one of the nation’s largest health insurers, will stop selling Obamacare health plans next year, the company announced Tuesday. The move threatens to rattle jittery insurance markets and further complicate Republicans’ push to repeal and replace the Affordable Care Act.
The company attributed its action to mounting losses caused by sicker-than-expected consumers. It is the first major insurer to pull back completely amid the mounting uncertainty over the GOP’s still undefined healthcare plans, though other leading health plans have exited marketplaces over the last year, citing losses.
Humana’s move will also probably mean that some 150,000 policy holders in 11 states where Humana sells Obamacare plans will have to switch carriers in 2018; some may be left without any alternative.”
– Noam N. Levey and Melody Petersen, “Amid Obamacare uncertainty, insurance giant Humana plans to leave marketplaces in 2018,” The Los Angeles Times online, Feb. 14, 2017