Humana, a major health insurer, said Tuesday that it will pull out of the Obamacare marketplace after this year, delivering yet another blow to a program that was already on life support.
The Louisville, Kentucky-based company had already cut offerings for this year and pulled out of hundreds of counties last year. It said Tuesday that it tried everything it could to make money but early returns from the just-closed enrollment period weren’t promising.
“Therefore, the company has decided that it cannot continue to offer this coverage for 2018,” the company said.
President Trump said the decision was proof that “Obamacare continues to fail.”
“Humana to pull out in 2018. Will repeal, replace & save healthcare for ALL Americans,” Mr. Trump said on Twitter.
But Democrats said he and his party are responsible for that failure. They say Republicans’ push to repeal and replace the health care law have sowed confusion and unrest and that, not any structural problems with Obamacare, is what is chasing companies out of the markets.
Humana had served roughly 150,000 customers in 11 states.
The company announced its exit hours after it terminated plans for a $34 billion acquisition by Aetna. A federal court had blocked the deal, citing its potential effects on competition.
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