As health insurers head for the exits, Americans who have been whipsawed by ObamaCare may get whacked again this fall: First, they were thrown off private plans that were declared illegal, then they were forced into the ObamaCare exchanges, and now they could face the prospect of being shut out of coverage through their exchanges entirely for 2017. In Arizona’s Pinal County, for example, no insurers are offering coverage through the exchange. While decisions won’t be final until next month, people in other counties could face a similar fate.
Elsewhere, millions of Americans will have a “choice” of just one carrier, especially in rural areas. It’s likely that Alabama, Alaska, and Oklahoma will have only one health insurer selling individual coverage on their exchanges next year. South Carolina and most of North Carolina could join that list as well. Nearly one-third of the nation’s counties are likely to have just one insurer offering health plans on the exchanges next year: Last year, 50 Texas counties had only one insurer offering individual plans, according to data from the Texas Department of Insurance. Next year, Texans in 57 counties will have only one choice. Exchange customers in many Florida counties will be offered only the Blues plans.
United Healthcare, Humana, and some Blues plans were the first start the exodus from the ObamaCare exchanges. But when Aetna CEO Mark Bertoliniannounced in mid-August that his company will dramatically reduce its individual public exchange participation to just four states, it created an earthquake. Aetna had been all in for ObamaCare, investing billions to offer coverage through the ACA exchanges. But after losing $430 million in this market since January 2014, Bertolini had to answer to his shareholders.
(Excerpt) Read more at forbes.com ...
