Blue Cross Blue Shield of Nebraska has announced it’s leaving the federal Affordable Care Act’s public insurance exchanges.
The state’s largest health insurer says it will leave the government health insurance marketplace effective January 1st, citing increased costs and decreased competition and consumer choice as other insurers across the country have bowed out of the exchanges.
Blue Cross Blue Shield says that since it began selling individual plans through the exchanges, “we have lost approximately $140 million.”
Its decision will not affect Medicare supplement or group plans.
With Blue Cross Blue Shield’s exit, only Aetna and Medica Health are left to offer individual policies on the exchange to Nebraskans for 2017.