About 27,000 Hoosiers will lose their Obamacare plans next year, after Indiana University Health Plans announced it is withdrawing from the Indiana marketplace.
IU Health Plans joins three other insurers, including United Healthcare, that are dropping out of the marketplace, citing big losses from the new enrollees. It had covered 15 percent of marketplace enrollees last year.
The plan said Monday it had “restructured its product offerings for 2017,” according to a report by the Indianapolis Business Journal. It said it also is terminating individual plans sold off the marketplaces because it needs to “adapt to new market dynamics.” It said it has notified members and state insurance officials.
A number of other insurers, including several Blue Cross plans, have announced this week they’re pulling out of the Obamacare marketplaces, after initially proposing large rate increases for the 2017 enrollment season, which starts Nov. 1.
Indiana Sen. Dan Coats, a Republican, said the announcement from IU Health Plans is evidence the healthcare law is “collapsing before our eyes.”
“Because of the broken Obamacare system, Hoosiers continue to face rising premiums and limited choices rather than reliable, affordable healthcare,” Coats said. “President Obama promised more access and choices, but his healthcare law has done the opposite.”
