UnitedHealth to pull out Affordable Care Act coverage
BATON ROUGE- UnitedHealth is pulling out of the Affordable Care Act health coverage in Louisiana next year. That will force about 29,000 people to find a new insurance provider under the federal health care law.
The nation's biggest health insurer notified Louisiana Insurance Department officials last week that in January it will end its participation.
UnitedHealth CEO Stephen Hemsley said the company has been reviewing its health care law-related business on a state-by-state basis and expects to lose more than $1 billion on it for 2015 and 2016.
In Louisiana, UnitedHealth insures about 13 percent of the more than 214,000 residents enrolled in ACA for 2016.
The UnitedHealth members in Louisiana will have to sign up with a new insurer during the 2017 open enrollment period.
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