Insurance companies continue to leave Obamacare exchange
Around the country, insurers are pulling out of the Affordable Care Act, or "Obamacare," and those seeking coverage through their state exchanges will have fewer options and higher premiums moving forward, according to multiple sources.
Anthem health care dropped out of the health care exchange in Nevada, Ohio, Wisconsin, Indiana, and parts of Georgia because they cannot create a plan the people of those states can afford. Aetna pulled out of Virginia, Medica threatened to stop selling individual plans in Iowa, Humana pulled out of Tennessee, BlueCross/BlueShield, and many others are going to drop out before Republicans can resolve how they are going to unwind the Affordable Health Care Act, according to the Washington Post and The Atlantic.
At least 868,460 patients may lose coverage in 2018 in the United States because four major insurers have dropped out of at least one state or more, according to Fox News. At the moment, more than 1,370 counties have only one insurer that provides a plan through the Affordable Care Act state exchange, according to USA Today. On August 16, 2018, insurance companies have to say if they are going to be involved in Obamacare, but they can decide sooner.
Premiums went up this year, and could hit double-digit percent increases in 2018. The rates have gone up 11 percent in Vermont and 50 percent in New York, according to USA Today. President Trump wants to reimburse insurance companies for reducing out-of-pocket costs to low-income customers. Obama and Trump’s administration are not forcing young people to buy insurance to subsidize the old, according to the Chicago Tribune.