"We're seeing premiums of more than $40,000 a year and deductibles of more than $13,000".
President Donald Trump said Humana's pull-out was evidence of the law continuing to "fail".
However, his administration can adjust regulations even before lawmakers act.
On Wednesday his Department of Health and Human Services made its first substantive proposals to change the marketplaces for individual coverage, commonly known as Obamacare. When ACA passed I gladly enrolled even though it was an added expense because I knew that my participation helped lower costs for people who really needed care. Insurance companies have complained that many people delay signing up until they're sick and then drop coverage after getting care.
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Here is a primer on the individual insurance market and the potential consequences of repealing portions of the sweeping health law. For six years officials of the federal government and of Washington state have pursued an aggressive policy of centralized control over people's health care, with the result that Obamacare is as unworkable and unpopular as ever.
Take Sen. Ron Johnson (R-Wis.), who in 2011 called Obamacare "the single greatest assault on our freedom in my lifetime". And Laggis, from the health insurance association, also acknowledged that the concern is already widespread throughout her industry.
Humana Inc., based in Louisville, Kentucky, covers about 150,000 people on exchanges in 11 states, including Tennessee.
Taxpayers may still owe the penalty if they don't have coverage, however. "Insurers have a hard enough time making the normal predictions of who will get sick and how much it will cost", the article states.
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Republicans can use the reconciliation process to pass, using a simple majority, a bill to defund almost $100 million in federal subsidies offered to customers on Vermont Health Connect and at least $269 million in funding for enrollees in Medicaid expansion. Most insurers seem to be taking more of a "wait and see" approach, since they won't have to decide whether to sell until late spring.
On Tuesday, Feb. 14, Humana declared that it will cancel all ties with Obamacare and will also stop selling individual insurance by 2018. In 2014, he proclaimed that Obamacare's "damage can not now be undone by delaying it or tinkering with it - it must be repealed and replaced with the patient-centered plan proposed by House Republicans".
The Republicans, however, have not yet come together on a plan for replacing those provisions with their alternatives, an effort that would be separate from the repeal legislation.
The rule could take effect as soon as next month.
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The rule does not contain one of the more controversial changes insurers want - allowing them to charge older enrollees more. Because Obamacare policies impact so many different parts of the federal government, repealing and replacing the law will require several steps. Insurers are looking to widen that band to five-to-one.