Another U.S. health insurer is threatening to drop out of Obamacare after posting massive financial losses related to the program, just hours after an insurance CEO said the law's markets were entering a "death spiral."
Molina Healthcare Inc., one of the few big insurers that's stuck with the exchanges created by the Affordable Care Act, said Wednesday that it could pull out of some markets next year after losing $110 million in 2016. Chief Executive Officer J. Mario Molina said he's going to wait to see what President Donald Trump's administration does to shore up the program.
"There are simply too many unknowns with the marketplace program to commit to our participation beyond 2017," the CEO said during a conference call with investors after issuing fourth-quarter financial results.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
