Bruce Broussard, CEO of Louisville, Ky.-based Humana, stated that the insurer will not return to health insurance exchanges developed under the ACA even if the individual market changes for the better under Republicans’ proposed healthcare bill, WDRB reports.
Mr. Bruce Broussard assured the intention of insurer to exit the health insurance exchanges effective Jan. 1, 2018, at the Barclays Global Healthcare Conference in Miami on the day of Thursday. He told investors attending the conference that as Humana contemplates “the future — you will not see us go in the exchanges … We’ve planned that exit and even if [lawmakers] were to change [the exchanges] to be very viable, we would not be back in,” WDRB reports.
Humana is the 1st major health insurer to declare plans to exit the 2018 ACA exchanges. The insurer covers over 150,000 individuals through plans sold through the exchanges in eleven states, making it one of the smaller players in the business, in accordance to a Forbes report. The insurer hopes to lose almost $45 million on the exchanges this year.
Mr. Broussard stated that Humana is shifting concentration away from the exchanges and toward its Medicare Advantage business. He claimed “anything that will drive Medicare Advantage growth in the future is what we’re, and that brand will sustain to be reinforced as being a senior-based brand.”
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