UnitedHealthcare Won't Participate in Arizona Exchange

UnitedHealthcare, a subsidiary of UnitedHealth Group, has opted not to participate in the new health insurance exchange in Arizona, according to a Phoenix Business Journal report.

Other insurers including Aetna, Blue Cross Blue Shield of Arizona, Cigna, Humana, Health Net, Compass Health Cooperative and University of Arizona Health Plans have been identified as possible participants in the state exchange, according to the report.

UnitedHealth CEO Stephen Hemsley said at an investors meeting earlier this year that the company — the nation's largest insurer — will sell plans in only 12 state health exchanges, based on the risk that the first wave of customers on the exchanges will be those who need coverage the most and have the most expensive care needs.

UnitedHealthcare has also opted not to offer insurance policies in Missouri's exchange. Additionally, UnitedHealth announced earlier this month that it would withdraw from California's individual market entirely at year-end.  

More on Health Insurance Exchanges:
UnitedHealthcare, Cigna Won't Participate in Missouri's Health Exchange
UnitedHealth to Take Individual Business Out of California
UnitedHealth CEO: Early Exchange Enrollees May Be Costliest