Cigna’s exit adds to ObamaCare marketplace upheaval
Summary
Cigna announced it will leave the Affordable Care Act (ACA) health insurance exchanges in 2027. This decision comes after changes reduced federal financial help for individuals buying insurance through these marketplaces.Key Facts
- Cigna will exit the ACA insurance exchanges starting in 2027.
- The announcement was made during Cigna’s earnings call.
- Cigna reported a $1.7 billion net income in the first quarter of the year.
- The company’s exit adds pressure to the individual health insurance marketplace.
- Changes to federal subsidies have reduced financial assistance for ACA marketplace customers.
- Cigna is the second major insurer to leave the ACA marketplace in recent times.
- The ACA exchanges allow people to buy subsidized health insurance if they qualify.
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