Giant insurer Aetna on Wednesday continued an ongoing retreat from the Obamacare business, announcing it will not sell such health plans in Virginia next year because of expected financial losses.
Aetna left open the question of whether it will sell individual health plans anywhere next year.
The insurer, which last month announced it would exit Iowa's Obamacare market in 2018, sells individual plans in just two other states this year: Delaware and Nebraska.
"Despite significantly reducing our exchange footprint, our individual commercial products could potentially lose more than $200 million in 2017," said Aetna spokesman T.J. Crawford in an email.
"Based on that financial risk, and growing uncertainty in the marketplace, we will not offer on- or off-exchange individual plans in Virginia for 2018."
"We will communicate decisions on our remaining states as appropriate," Crawford said.
The email contains a graphic image depicting Aetna's approximate pre-tax losses on Obamacare plans since they began being sold in 2014. They go from about $100 million that year, up to $130 million in 2015, and about $450 million last year.