The death spiral of Obamacare is real and is actually happening. The number of companies which are willing to participate in the exchanges keeps shrinking. Now, the biggest provider in Virginia is pulling out.
Forbes reports:
Anthem Blue Cross Pulls Off Obamacare Exchange In Virginia
Anthem said Friday afternoon it planned to scale back statewide individual coverage in Virginia on the public exchange under the Affordable Care Act amid inaction by the Donald Trump White House on cost-sharing reduction subsidies.
Anthem, which operates under the Blue Cross and Blue Shield plan in 14 states, has already scaled back its Obamacare offerings in Indiana, Ohio and Wisconsin amid an unstable individual market for plans operating under the ACA.
“Today, planning and pricing for ACA-compliant health plans has become increasingly difficult due to a shrinking and deteriorating Individual market, as well as continual changes and uncertainty in federal operations, rules and guidance, including cost sharing reduction subsidies and the restoration of taxes on fully insured coverage,” Anthem said in a statement Friday afternoon. “As a result, the continued uncertainty makes it difficult for us to offer Individual health plans statewide in Virginia.”
Effective in January of 2018, Anthem said it will “not participate on the individual exchange in Virginia and will reduce its plan offering and will only offer off-exchange plans in Washington and Scott Counties and the city of Bristol, VA.”
This is going to get worse before it gets better. The GOP needs to get on the ball and pass healthcare reform, quickly!
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