Today's statement by one issuer is not indicative of the Marketplace's strength and viability.'įind Daily Reading videos here-SUBSCRIBEUnited Healthcare may be one of many providers, but it is America's largest health insurance provider and the world's third-largest provider. We did not believe it would form this slowly, be this porous, or become this severe.'īen Wakana, a spokesman for the Department of Health and Human Services, sent an email stating, 'The reality is we continue to see more people signing up for health insurance and more issuers entering the Marketplaces. Hemsley said, 'It will take more than a season or two for this market to develop. We can't really subsidize a marketplace that doesn't appear at the moment to be sustaining itself.' Hemsley told analysts on a conference call, 'We cannot sustain these losses. In response to the loss, BloombergBusiness reported UnitedHealthcare has retracted its statement that it would sell coverage through the Affordable Care Act in eleven more states next year. In retrospect, we should have stayed out longer.' I take accountability for sitting out the exchange market in year one so we could in theory observe, learn and see how the market experience would develop. Find Your Patron Saint Medal NowAt an investors' meeting in New York, Hemsley stated, 'It was for us a bad decision.

Unite health ceo on obamacare