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Health insurer Anthem will withdraw from the Obamacare (Affordable Care Act) individual plan business in Ohio at the end of the year.
Anthem Blue Cross and Blue Shield has served consumers in the individual market, providing access to affordable, quality healthcare for more than seven decades.
Citing the reason for withdrawal, the insurer said: "The Ohio Individual market remains volatile and the lack of certainty of funding for cost sharing reduction subsidies, the restoration of taxes on fully insured coverage and, an increasing lack of overall predictability simply does not provide a sustainable path forward to provide affordable plan choices for consumers.
"As a result, Anthem has made the difficult decision to reduce its 2018 Individual plan offering in Ohio to one off-exchange medical plan in Pike County only. This decision does not impact individuals or families with grandfathered or grandmothered plans, nor does it impact Anthem’s employer-based or Medicare Advantage plans."
Explaining the current difficult market situation, Anthem stated that "a stable insurance market is dependent on products that create value for consumers through the broad spreading of risk and a known set of conditions upon which rates can be developed. Today, planning and pricing for ACA-compliant health plans has become increasingly difficult due to the shrinking individual market as well as continual changes in federal operations, rules and guidance."
Anthem, Ohio, Health insurance, Obamacare, Affordable Act, US
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