Obamacare takes big hit as major insurer pulls out

Via Billy

Health insurer Humana is withdrawing completely from the Obamacare marketplaces in 2018, citing steep financial losses from patients in the individual market.

The company announced the move Tuesday afternoon, becoming the first major insurer to announce its strategy for next year.

Humana covers just a small sliver of Obamacare enrollees — about 150,000 — but its exit bodes poorly for the marketplaces next year as insurers consider whether they can be profitable there.

Insurers are also uncertain about what the marketplaces might look like next year, as congressional Republicans seek to repeal and replace the law but haven't decided exactly how to handle it.

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