UnitedHealth Group, the largest U.S. health insurer, announced Tuesday that as of 2017 it would minimize its active participation in Affordable Care Act insurance exchanges to just a "handful" of the 34 states where it currently offers individual plans. The company warned in November that this may happen as the market ended up being smaller and financially riskier than anticipated. CEO Stephen Hemsley forecasted in an earnings call Tuesday that 2016's expected losses on exchanges are now up from $125 million to $650 million.
UnitedHealth currently insures 795,000 of the 12.7 million people insured through the state and federal marketplaces.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Every MCU movie since 'Avengers: Endgame,' rankedThe Week Recommends How did the recent 'Fantastic Four: First Steps' stack up?
-
Trump says Smithsonian too focused on slavery's illsSpeed Read The president would prefer the museum to highlight 'success,' 'brightness' and 'the future'
-
Court says labor board's structure unconstitutionalSpeed Read The ruling has broad implications for labor rights enforcement in Texas, Louisiana and Mississippi
-
Texas declares end to measles outbreakSpeed Read The vaccine-preventable disease is still spreading in neighboring states, Mexico and Canada
-
RFK Jr. shuts down mRNA vaccine funding at agencySpeed Read The decision canceled or modified 22 projects, primarily for work on vaccines and therapeutics for respiratory viruses
-
Measles cases surge to 33-year highSpeed Read The infection was declared eliminated from the US in 2000 but has seen a resurgence amid vaccine hesitancy
-
Kennedy's vaccine panel signals skepticism, changeSpeed Read RFK Jr.'s new vaccine advisory board intends to make changes to the decades-old US immunization system
-
Kennedy ousts entire CDC vaccine advisory panelspeed read Health Secretary RFK Jr. is a longtime anti-vaccine activist who has criticized the panel of experts
-
RFK Jr. scraps Covid shots for pregnant women, kidsSpeed Read The Health Secretary announced a policy change without informing CDC officials
-
New FDA chiefs limit Covid-19 shots to elderly, sickspeed read The FDA set stricter approval standards for booster shots
-
US overdose deaths plunged 27% last yearspeed read Drug overdose still 'remains the leading cause of death for Americans aged 18-44,' said the CDC
