Humana May Withdraw From Obamacare Exchanges

Forbes reports:

Humana profits fell 30% in last year’s fourth quarter with the insurer unable to manage the rising medical costs of newly insured Americans signing up for individual coverage under the Affordable Care Act, leaving its participation on public exchanges in doubt beyond this year.

The Louisville-based health insurance company, which is being taken over by rival Aetna in a deal that may close later this year, said net income fell to $101 million, or 67 cents a share, in the fourth quarter from $145 million, or 94 cents a share in the year-ago period. Humana’s results included a charge of $176 million, or 74 cents a share, for a premium deficiency reserve “related to the company’s 2016 (Affordable Care Act)-compliant individual commercial medical offerings.”

The struggles of fascist style health insurance in America.