UnitedHealth Group Inc. will drop out of government-organized health insurance markets in at least 16 states as the U.S. industry leader tries to stem losses from participating in ObamaCare, the healthcare overhaul that has brought coverage to millions of people.
UnitedHealth hasn’t listed the markets it’s leaving, and confirmations of the company’s withdrawals have been trickling in from regulators in the 34 states where the company sold plans for this year. The insurer won’t sell individual ACA plans for 2017 in states including Texas, North Carolina and Maryland. UnitedHealth also is withdrawing from some related state insurance markets for small businesses.
Chief Executive Officer Stephen Hemsley said Tuesday that the company will end up selling ObamaCare plans in “only a handful of states” next year.