The health insurance giant Humana will give up on the American’s covered by the Affordable Care Act in 2018.
Humana believes the ACA Healthcare exchanges have too few healthy patients to balance out a significant number of sick and costly patients. The health insurer lowered its participation previously, reducing the number of states in 2016 from 19 to 11.
In December Humana announced that they would be “writing off $583 million” as a result of its failed exchange insurance program.
Humana said in its announcement, “All of these actions were taken with the expectation that the company’s Individual Commercial business would stabilize to the point where the company could continue to participate in the program. However, based on its initial analysis of data associated with the company’s healthcare exchange membership following the 2017 open enrollment period, Humana is seeing further signs of an unbalanced risk pool.” The said nothing about the additional 30 million people covered and what they will be left with.
Humana’s CEO Bruce D. Broussard isn’t worried, because his $10 million/year job comes with full healthcare benefits.
You can contact Humana here.