MINNEAPOLIS – UnitedHealthcare’s pullback from government-run health insurance exchanges includes vacating the online marketplace for California, state regulators announced Tuesday.
United, based outside Minneapolis, currently competes on exchanges in 34 states, but announced in April that it would sell coverage next year in just a handful due to financial losses.
UnitedHealthcare is the nation’s largest health insurer, but the company was new to California’s exchange in January.
“United currently has enrollment of about 1,200 members which accounts for less than one-tenth of a percent of our 1.4 million consumers,” wrote James Scullary, a spokesman for Covered California, in an email. “This is primarily because of the limited regions where they are offered and the fact that they have the second-highest or highest price point in three of the five regions.”
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