As several payers plan market expansions for 2024, others are leaving markets behind.
Here are four planned market exits Becker's has reported in 2023.
- UnitedHealthcare is discontinuing some Medicare Advantage plans and exiting some service areas for 2024. In a message sent to providers Sept. 21, the nation's largest Medicare Advantage insurer said affected plans include some plans co-branded with AARP; UnitedHealthcare MedicareDirect, a fee-for-service-based program; some dual-eligible plans; and other MA options. A UnitedHealthcare spokesperson told Becker's the company is expanding its overall MA offerings for 2024.
- Cigna Healthcare willexit some ACA markets in 2024 and expand to 15 new counties in North Carolina. The payer will exit the ACA exchange market in Kansas and Missouri, a Cigna Group spokesperson told Becker's. Cigna will also exit two counties in Utah and Arizona.
- Friday Health Plans shuttered all of its business in June. The payer exited ACA exchange markets in Colorado, Georgia, North Carolina and Nevada. State regulators took control of the company's finances, and members were directed to find coverage from a new insurance carrier.
- Oscar Health will exit California's individual insurance market for 2024, company executives said. The payer has around 35,000 members in the state.
- Bright Health plans to sell its California Medicare Advantage business to Molina Healthcare in a $600 million deal. The sale marks Bright Health's exit from the insurance business.
- Humana will exit the Employer Group Commercial Medical Products Business over the next 18 to 24 months, the payer said in March. Most of Humana's commercial business is concentrated in Florida, Texas, Georgia and Kentucky.