It looks like another is biting the dust as Humana the nations 5th largest health insurer is pulling out of the Obamacare Exchanges in the 11 states they serve
Health insurer Humana is leaving the Affordable Care Act’s public insurance exchanges for next year as it regroups after ending its proposed combination with rival insurer Aetna.
Humana Inc. covers about 150,000 people on exchanges in 11 states.
The insurer said Tuesday it had taken several actions to improve that business, but it was still seeing signs of unbalanced risk in that customer population. Health insurers have struggled to attract enough healthy people to their risk pools to balance the claims they incur from people with expensive medical conditions.
This is going to be very bad news for a system that is already on the ropes. According to the Heritage foundation 70% of the country currently has effectively no choice or competition when using the exchanges. With so much of the country so ill served by this law, you have to ask just what will it take for Congress and the President to end this ongoing farce.