Major Insurance Company Quits Obamacare, Profits Skyrocket

Apr 20, 2017

UnitedHealthcare Group's quarterly profit rose dramatically after the health insurance provider drastically downsized its participation in the Obamacare exchanges. The company's profit rose by 35 percent in the first-quarter of 2017, and expanded nearly every aspect of its operation, including its participation in Medicare Advantage and Medicaid plans, according to the Associated Press. The Obamacare exchanges require below market rates and so many medical mandates that experts expect most insurance companies to quit the exchanges if new changes are not enacted. Many states only have one provider for the Obamacare exchanges after other companies dropped out in order to survive financially. UnitedHealth brought in $2.17 billion in first-quarter earnings, and other companies are bound to follow suit.