Blue Cross Blue Shield of Tennessee will leave major Obamacare markets in the state because of steep financial losses, the latest insurer to pull back from the exchanges.

The insurer announced it would not offer Obamacare plans in 2017 in Memphis, Nashville and Knoxville. The company told the Tennessean newspaper that by the end of this year, it anticipates losses from three years of selling on the exchange will approach $500 million.

Recommended Stories

Wall Street not sweating Justice’s insurer lawsuits

Insurers jittery over quick Obamacare repeal

The Obamacare individual mandate is repealed. Here’s what’s next