Last week we told you about Humana’s plans to drop out of Affordable Care Act (ACA, or “Obamacare”) insurance exchanges in certain states. Now the company has revealed that one of those states is Alabama—leaving just one ACA exchange in the entire state, effective Dec. 31, 2016. The other states (so far) are Kansas, Wisconsin, and Virginia, though news regarding more states may still be ahead. The company first said it would consider exiting certain markets next year on the heels of announcing its first quarter 2016 earnings were down 21% from the same period last year. Many insurers have complained that participating in ACA exchanges is not profitable enough. United HealthCare Services has said it will participate in only “a handful” of state exchanges next year.
Update: Humana’s Four-State Exodus Leaves Alabama in a Tough Spot