Insurer UnitedHealthcare recently confirmed that it would stop offering health plans on Illinois’ federal health insurance marketplace next year, the Chicago Tribune
A company spokeswoman confirmed the withdrawal.
The insurer’s exit affects 27 counties in the state, leaving them one insurer less to choose health plans from.
In April, UnitedHealthcare announced that it would leave all but a handful of Affordable Care Act (ACA) exchanges due to heavier-than-expected losses. The insurer had not expected to cover a population that was far sicker than it had projected.
UnitedHealthcare’s ACA plans, which it offered in 34 states this year, take up a small share of the company’s total business.
The insurer disclosed Tuesday on a website for brokers that it intends to offer on-exchange plans in only three states: Nevada, New York, and Virginia.
Despite the plans to exit, current Illinois members will have access to their benefits through the end of the year. Also, the exit will not affect UnitedHealthcare’s group insurance business or Medicare plans.
UnitedHealthcare also confirmed that its subsidiary, Harken Health, will remain on the Illinois and Georgia exchanges next year. The broker’s website revealed that Harken is looking to expand into Florida in 2017.
At the end of this year’s first quarter, UnitedHealthcare had approximately 795,000 exchange enrollees in total.
Late last year, UnitedHealthcare reported almost 22,000 individual members in Illinois, which is less than 4% of the state market according to Mark Farrah Associates. The company only offered its plans in Cook County in 2015.
UnitedHealthcare to pull out of Illinois insurance exchange