Humana Echoes Obamacare Warning Following UnitedHealth Exits
- Insurer to quit Alabama and Virginia, shrinking choices
- Humana may boost rates, change plans to turn around business
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Humana Inc. is set to exit Obamacare markets in at least two states to stem financial losses, another sign of the struggles that health insurers face in the controversial program after UnitedHealth Group Inc. moved to back out of most of the government-run exchanges.
Humana won’t sell Affordable Care Act plans in Alabama and Virginia in 2017, according to state regulators. The insurer warned Wednesday that it plans to leave some states, saying it’s preparing to boost premiums in an effort to make a profit on sales of policies under the ACA.