UnitedHealth Group Inc. will pull out of Kentucky’s individual marketplace for Obamacare plans, bringing to 26 the number of states the health insurer is quitting next year.
The company plans to halt sales of individual plans in Kentucky for 2017, both inside and outside the state’s Affordable Care Act exchange, as well as the small-business exchange, UnitedHealth said in a letter to the state’s insurance department. The letter was obtained by Bloomberg through an open records request.
UnitedHealth’s exits from the state Obamacare markets threatens to limit the number of options for consumers when they shop for coverage for next year. In addition to Kentucky, Iowa’s insurance regulator said Monday that the company is quitting the state’s individual market and small-business exchange for 2017. In both states, UnitedHealth will continue to offer small-business plans off the exchange.