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11-03-2016, 03:29 PM
Anthem Inc. has stuck with the Obamacare exchanges despite losses but Wednesday the company’s CEO announced that, unless conditions improve in the coming year, Anthem will join other major insurers on the sidelines. From Bloomberg:

“If we do not see clear evidence of an improving environment and a path towards sustainability in the marketplace, we will likely modify our strategy in 2018,” Anthem Chief Executive Officer Joseph Swedish said on a call Wednesday discussing third-quarter results. “Clearly, 2017 is a critical year as we continue to assess the long-term viability of our exchange footprint.”

Anthem sells health coverage under the Blue Cross Blue Shield brand in 14 states. The company will continue offering plans for next year in the new markets created by the Affordable Care Act. If it pulls back in 2018, it will leave mostly regional and not-for-profit firms on the markets…

“The financial performance in individual ACA compliant products has been disappointing as membership has been short of our original expectations,” Swedish said. The company