Cigna exits ACA marketplace, affecting 369,000 enrollees
By 2027, Cigna plans to exit the Affordable Care Act marketplace, affecting 369,000 people who must seek alternative health insurance options. During its Q1 earnings call, the company expressed that it does not foresee a viable route to significant growth within the individual market. This move highlights persistent difficulties faced in the ACA marketplace, where insurance providers have encountered issues with profitability and regulatory unpredictability.
Key facts
- Cigna is pulling out of the Obamacare marketplace
- 369,000 people will need to find new coverage
- The announcement was made on Cigna's Q1 earnings call
- Cigna cited no path to meaningful growth in the individual market
- The exit will take effect by 2027
Entities
Institutions
- Cigna
Sources
- Quartz —