Last month marked the sixth anniversary of the passage of the Affordable Care Act (ACA), also known as Obamacare. With its passage came a promise that millions of Americans would be provided quality, affordable health insurance they previously could not get.
It was announced this week that United Healthcare will be pulling out of almost all Obamacare exchanges, including here in North Carolina.
Their exit follows 45 other insurers nationwide who have left the exchange due to the high risk and high cost. In North Carolina, only Blue Cross and Blue Shield of North Carolina and Coventry Health Care remain part of the exchange here in NC.
United Healthcare CEO Stephen Helmsley said he “expects a $525 million loss on those plans this year, with the increase due to early indications that the health of those signing up for the plans is worse than expected, leading to higher claims costs.”
This is not surprising news to conservatives who predicted that the cost of insurers’ participation in the exchange would be too high.