On Friday, U.S. health insurer Anthem Inc announced it will exit Obamacare markets in Virginia citing “uncertainty in federal operations” and instability in the insurance marketplace.
The company has strong ties in the region. Anthem has over 1,800 employees in its Virginia Beach headquarters, making it one of the city’s top employers, according to a ranking by the city’s economic development authority.
“Today, planning and pricing for ACA-compliant health plans has become increasingly difficult due to a shrinking and deteriorating individual market, as well as continual changes and uncertainty in federal operations, rules and guidance, including cost sharing reduction subsidies and the restoration of taxes on fully insured coverage,” company spokesman Scott Golden said in a statement.
He added that, as a result of such issues, Anthem will not participate on the Individual Exchange in Virginia for 2018. And will reduce its 2018 Individual plan offering and will only offer off-exchange plans in Washington and Scott Counties, and in the City of Bristol, Va.
Friday’s decision does not affect those who have employer-based insurance or individuals enrolled in “grandfathered” plans, which are plans purchased before March 2010, he said.
It will also not affect those enrolled in Medicaid or Medicare plans.
“Our commitment to members has always been to provide greater access to affordable, quality healthcare,” Golden said. “We will continue to advocate solutions that will stabilize the market and allow us to return to a more robust presence in Virginia in the future.”
