UnitedHealth Says It's Losing Money Participating In Obamacare
Even though UnitedHealth Group posted over a billion dollars in net earnings, the company says it's losing money through insurance exchanges.By Stephanie Liebergen | April 19, 2016
Hundreds of thousands of Americans will have one less insurance company to choose from through the government's health care exchanges next year.
UnitedHealth Group announced it's pulling out of a majority of the exchanges and only remaining in "a handful of states" in 2017.
"The smaller overall market size and shorter term, higher risk profile within this market segment continue to suggest we cannot broadly serve it on an effective and sustained basis," Stephen Hemsley, UnitedHealth Group CEO, said.