Both insurers also will stop selling individual market policies outside of the exchange in Iowa.
Aetna also said it is reviewing its presence in other states, including Nebraska.
"Insurers will have to decide very, very soon about pricing for next year", said S&P Global credit analyst Deep Banerjee, because initial rate submissions for Obamacare plans are due over the next couple of weeks in a handful of states.
The combination of the two exits will leave the vast majority of counties in the states with only one insurer, assuming that there are no other changes, according to Cynthia Cox of the Kaiser Family Foundation. "Given all the uncertainty right now, all we can say is that we are currently evaluating the situation and our options". "It's a problem created by the ACA and needs to be addressed by the federal government as soon as possible".
Twitter challenges US order for anti-Trump user records
Majority were probably fake, but one of these "rogue" accounts has actually drawn the ire of the Trump administration. But the federal agencies and other defendants "have not come close" to demonstrating any of this, the lawsuit states.
After raising premiums this year to better balance out their risks on older, sicker exchange enrollees, S&P expects numerous insurers will break even on Obamacare plans. "Wellmark accounted for most of the plans sold in the state that comply with Obamacare but are not sold on Healthcare.gov". For months, health insurers have threatened to quit offering policies on the ACA's marketplace if they don't get the regulatory details they need to design and price their insurance plans. Including its customers in Iowa, it covers 240,000 people in individual plans on those exchanges. Medica says it has 14,000 Iowa members. Wellmark's exit affects about 21,400 people-a little more than 1% of the insurer's membership in Iowa.
But the amendment to the stalled American Health Care Act, called the Federal Invisible Risk Sharing Program, does not say how that money would be distributed, leaving that to the Department of Health and Human Services. President Donald Trump and Republicans have promised to repeal and replace the law, and insurers have said the uncertainty over the rules and government subsidies is making it hard to set those rates.
The Iowa Insurance Division said Aetna reported 32,822 Iowans on the marketplace and 3,383 Iowans off the marketplace will be affected.