Has Obamacare hit the proverbial iceberg? 12 of the 23 co-ops are failing with 8 of the remaining 11 on their way down has people asking…is the Affordable Care Act dead?
News that the nations largest insurance company will be pulling out of Obamacare feels like the death blow to the beleaguered program.
From Fox News:
The nation’s largest health insurer, fearing massive financial losses, announced Tuesday that it plans to pull back from ObamaCare in a big way and cut its participation in the program’s insurance exchanges to just a handful of states next year – in the latest sign of instability in the marketplace under the law.
UnitedHealth CEO Stephen Hemsley said the company expects losses from its exchange business to total more than $1 billion for this year and last.
Despite the company expanding to nearly three dozen state exchanges for this…