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 Progress: Humana becomes first major insurer to quit Obamacare exchanges

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PostSubject: Progress: Humana becomes first major insurer to quit Obamacare exchanges   Tue Feb 14, 2017 7:42 pm

The company said it doesn't see any signs that the law's marketplaces are getting healthier.



Health insurance giant Humana on Tuesday said it will quit Obamacare's insurance markets altogether, announcing it will stop selling individual coverage in 2018.

The decision makes Humana the first major insurer to fully exit Obamacare amid uncertainty about the GOP's undefined health care plans. Other major insurers said they could also withdraw from Obamacare marketplaces next year if Republicans don't take immediate steps to shore up the law before replacing it.

President Donald Trump, whose administration is soon expected to issue rules meant to stabilize Obamacare's marketplaces, cited Humana's decision as the latest sign of the law's struggles.

"Obamacare continues to fail," Trump tweeted. "Humana to pull out in 2018. Will repeal, replace & save healthcare for ALL Americans."

Humana's announcement came hours after the insurer and Aetna said they would drop their $37 billion merger bid, declining to challenge a January court ruling that blocked their deal on antitrust grounds. And a second major health insurer merger appeared in jeopardy today after Cigna said it would terminate its agreement with Anthem and sue the company.

http://www.politico.com/story/2017/02/aetna-humana-drop-merger-bid-234989
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