UnitedHealthcare, Humana Opt Out of Wisconsin Exchange

Major health insurers Humana and UnitedHealthcare will not participate in Wisconsin's health insurance exchange this October under the Patient Protection and Affordable Care Act.

The Wisconsin Office of the Commissioner of Insurance announced that 13 insurers have asked for the state to certify them to sell policies through the individual insurance exchange, and nine have filed requests to sell coverage to small businesses. The state has not yet released the insurers' proposed rates.

In July, UnitedHealthcare also opted not to participate in health insurance exchanges in Missouri and Arizona. Additionally, the insurer's parent company UnitedHealth Group has decided to withdraw from California's individual market entirely.

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.

More Articles on Health Insurance Exchanges:
UnitedHealthcare Won't Participate in Arizona Exchange
UnitedHealthcare, Cigna Won't Participate in Missouri's Health Exchange
UnitedHealth to Take Individual Business Out of California