Cigna said it would decide on whether to participate in 2018’s Obamacare exchanges in a few months, as Congress plots its next steps on repealing and replacing the healthcare law.
The insurer’s CEO, David Cordani, told investors on a call Thursday that the individual market, which includes Obamacare’s exchanges, is “fragile at best,” according to published reports.
Cigna offers Obamacare plans in seven states. It had planned to expand its offerings for this year, but pulled those plans back because of losses.
Cordani said the insurer will “fully assess whether we will participate where and how” in 2018, according to Reuters.
The comments come as insurers are formulating what their plans for 2018 will be. The first deadline to submit plans for next year is in May.
Four Senate and House panels are creating legislation to repeal the Affordable Care Act and include some replacement provisions. It is not clear if insurers will be reimbursed for cost-sharing reduction payments, which they are forced to provide to low-income Obamacare customers to pay down the cost of copays and deductibles.
Insurers have said they need to know whether they will be reimbursed for the cost-sharing payments.
House Speaker Paul Ryan, R-Wis., has said that the goal is to get repeal legislation through in March or April.
