Posted: Jul 2, 2013 4:44 PM by Associated Press
SACRAMENTO, Calif. (AP) - A second health insurer has notified state regulators that it will stop selling individual policies in California.
UnitedHealthcare says it will no longer offer individual insurance plans at the end of the year. It will focus instead on its core business of group plans for large and small employers.
The insurer says "it has become more difficult to administer these plans in a cost-effective way." It has less than 8,000 individual insurance customers in California.
The announcement comes two weeks after Aetna Inc. said it also plans to exit California's individual insurance market. Both insurers avoided participating in the state exchange that is being established as part of the Affordable Care Act.
State Insurance Commissioner Dave Jones says the departure of UnitedHealthcare and Aetna "means less choice" for consumers.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
7/2/2013 4:14:12 PM (GMT -7:00)
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