Aetna becomes the second insurer this week to announce it is leaving the Affordable Care Act market in Iowa.
"Earlier today we informed the appropriate federal and state regulators that Aetna will not participate in the Iowa individual public exchange for 2018 as a result of financial risk and an uncertain outlook for the marketplace," Aetna spokesman T. J. Crawford said Thursday. "We are still evaluating Aetna's 2018 individual product presence in our remaining states."
Wellmark Blue Cross Blue Shield announced Monday that after losing $90 million in the Iowa exchange market over the past three years it would no longer sell Affordable Care Act plans in Iowa starting in 2018.
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For 2017, Aetna remains in the ACA market in Iowa, Delaware, Nebraska and Virginia.
Other major insurers, including Humana have also announced they are leaving all or part of the exchange market for 2018 due to financial losses and the instability and uncertainty of the ACA.
Republicans are again working towards a vote on an amended American Health Care Act to repeal and replace the Affordable Care Act. But they are trying to keep insurers in the market by offering a model based on what Maine has done for a federal risk sharing program to offer health insurers subsidies towards insuring high risk consumers that also helps to lower premiums.