Humana will not sell Affordable Care Act plans in Alabama and Virginia in 2017, according to the Indianapolis Business Journal.
The Louisville, Ky.-based health insurer is exiting state exchanges to stem financial losses. Once it pulls out of the Alabama exchange, Blue Cross and Blue Shield of Alabama will be the only choice on the state's individual ACA market.
Although Humana hasn't released the full list of state markets it plans to leave, Scott Fidel, an analyst at Credit Suisse Group AG, said in a research note that Humana is expected to "significantly reduce its overall exposure to the struggling public exchange marketplace."
Humana isn't the only insurer to reconsider the ACA exchanges. Last month, Minnetonka, Minn.-based UnitedHealth Group announced plans to exit all but a "handful" of ACA marketplaces next year.