December 1st, 2015 | By: Zachary Tracer
(Bloomberg) – The biggest U.S. health insurer should have stayed out of the Patient Protection and Affordable Care Act (PPACA) exchange system longer, UnitedHealth Group Inc.’s chief executive officer said Tuesday, after the company said last month that it will take hundreds of millions of dollars in losses related to the business. UnitedHealth (NYSE:UNH) said on Nov. 19 that i may quit selling coverage in the PPACA individual exchange programs in 2017. UnitedHealth mostly stayed out of the exchange system in 2014. It began selling exchange plan in 2015, before it had a complete picture of 2014 results, an, then, while it was waiting for a complete picture of competitors’ 2014 results, it expanded its 2016 exchange plan offerings. Read the article here.