(Adds details on Virginia)
NEW YORK May 3 Health insurer Aetna Inc
said on Wednesday it will not sell Obamacare individual
insurance plans in Virginia next year, a move it attributed to
"growing uncertainty" in the market and $200 million in expected
losses on the business this year.
Aetna, which had already sharply curtailed its 2017
participation in this marketplace to cover just four states,
said last month that it would leave Iowa. It has not yet
announced its plans for Nebraska or Delaware.
It announced its decision on Virginia as Republicans in the
U.S. House of Representatives worked to try to bring new
healthcare legislation to a vote. President Donald Trump and his
fellow Republicans in Congress have pledged to overturn and
replace the Affordable Care Act, often called Obamacare.
Insurers say they cannot plan amid the uncertainty over
future legislation and the prospect for continued government
payments, called cost-sharing reduction subsidies, in 2017 and
Aetna said on Tuesday that it was considering reducing its
exposure to the loss-making Obamacare individual business, in
which it has a total of 255,000 customers. The number of its
Virginia customers was not immediately available.
Virginia's insurance regulator has a May 3 midnight deadline
for insurers to submit premium rates for 2018. Aetna was among
nine insurers that had given preliminary indication to the
department about selling individual plans in Virginia, a
department spokesman said earlier on Wednesday.
(Reporting by Caroline Humer; Editing by Frances Kerry)