Molina Healthcare Inc. said Wednesday it will exit the Affordable
Care Actís insurance marketplaces in Wisconsin and Utah by the end
of this year, citing costs that contributed to hefty losses for the
health insurer in the second quarter.
The Long Beach,
California- based company also expects the performance of its
remaining ACA marketplaces will fall substantially short of previous
expectations in the second half of the year.
from the ACA public exchanges in Utah and Wisconsin comes ahead of a
September deadline for insurers to pull out of the markets or commit
to participating in the exchanges in 2018.
have prompted some health insurers to back away from ACA public
marketplaces. Others have been waiting for signs of stability before
committing to staying on next year.
Wednesday that it is reviewing its participation in other state
health exchanges, noting that the performance of its marketplaces in
Florida and Washington have been among the most disappointing. It
also plans to increase 2018 premiums for its remaining ACA
marketplace plans by 55 percent.