[Ed. – Kind of like the Chamber of Commerce exiting the commerce-boosting business.]
[H]ealth insurance giant [UnitedHealth] pulled out of almost all markets, forcing apologists to insist that all was well because UnitedHealth’s overall Obamacare market share was relatively small. Next, the company said it was closing up shop within Covered California, the massive exchange in America’s largest state. And now we get word that another enormous insurer is edging away from participation in the law — withdrawing not just from Minnesota’s Obamacare exchange, but from the state’s entire individual-based market…
This is a big deal – first Blue Cross plan to leave an Obamacare marketplace. https://t.co/hF0vwVmpoL
— Sarah Kliff (@sarahkliff) June 24, 2016
Many Minnesotans will once again feel the sting of President Obama’s dishonest “keep your plan” pledge, as the predictable consequences of his signature “accomplishment” are driving offerings out of existence:
Minnesota’s largest health insurer, Blue Cross and Blue Shield of Minnesota has decided to stop selling health plans to individuals and families in Minnesota starting next year. The insurer explained extraordinary financial losses drove the decision. “Based on current medical claim trends, Blue Cross is projecting a total loss of more than $500 million in the individual [health plan] segment over three years,” BCBSM said in a statement.