UnitedHealth Group has lowered its earnings forecasts for the year, citing losses on the public insurance exchanges.
UnitedHealth Group, the nation’s largest health insurance company, says it’s considering dropping out of the public exchanges that are an integral part of the Affordable Care Act, because it’s losing money on them.
“We cannot sustain these losses,” CEO Stephen Hemsley said in an investor call Thursday morning. “We can’t really subsidize a marketplace that doesn’t appear at the moment to be sustaining itself.”
The company also said it will “pull back” on marketing of the products it sells on the exchanges, while it decides what to do. It also said it was lowering its earnings forecast for the year as
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