Humana said Feb. 23 it plans to exit the commercial group market to focus on its government-sponsored business.
The Louisville-based company is not the first payer to drop big markets or entire lines of business. Here are six exits from the past year to note.
Bright Health Group significantly reduced its business operations and is no longer offering individual and family health plans through Bright Healthcare or Medicare Advantage plans outside California.
Inter Valley Health Plan ceased operations at the end of 2022. The Pomona, Calif.-based payer offered Medicare Advantage plans. According to its website, the plan had over 15,000 members in Los Angeles, San Bernardino, Riverside and Orange counties in California.
WEA Trust and Health Tradition Health Plan exited the Wisconsin health insurance market at the end of 2022, citing financial challenges with maintaining the business. The nonprofit no longer offers health insurance plans, according to its website.
Friday Health Plans will not offer coverage on the ACA marketplaces in Texas and New Mexico for 2023. A Friday spokesperson said Texas insurance regulators asked the company to pause operations in the state following operational challenges. The company plans to return to the state's marketplace for 2024.
Oscar Health exited the Arkansas and Colorado ACA markets at the end of 2022.
Cigna closed a deal to sell Molina Healthcare its Texas Medicaid contracts in January 2022. The contracts were the last of the payer's Medicaid business.