If it does scale back its Obamacare business, Anthem, which sells plans on ACA exchanges in 14 states, would join other big U.S. insurers — UnitedHealthGroup, Aetna and Humana — that are largely exiting those marketplaces. Those other companies have booked big losses on their Obamacare plans.
Swedish said Anthem believes "both the pricing and regulatory environment needs to be improved to drive towards a sustainable and affordable marketplace over the long term."
Like the other insurers who have pulled back, Swedish said, "We continue to experience higher than initially expected costs from members with chronic conditions."
"Overall, the financial performance in [Obamacare] plans has been disappointing, as membership has been short of our original expectations since its inception and operating margins have been lower than expected beginning in 2015," Swedish said.