Deserting ObamaCare: UnitedHealth, nation's largest health insurer, bolts, fears huge losses
http://www.foxnews.com/politics/2016/04/19/unitedhealth-pulls-back-on-obamacare-exchanges-amid-huge-losses.html?intcmp=hplnwsThe nation’s largest health insurer, fearing massive financial losses, announced Tuesday that it plans to pull back from ObamaCare in a big way and cut its participation in the program’s insurance exchanges to just a handful of states next year – in the latest sign of instability in the marketplace under the law.
UnitedHealth CEO Stephen Hemsley said the company expects losses from its exchange business to total more than $1 billion for this year and last.
Watch the chips fall.
