Molina Healthcare (MOH) - Get Molina Healthcare, Inc. Report said Thursday that it will drop 650,000 to 700,000 members this year and exit the Obamacare program by 2018 if the government does not make the cost-sharing subsidy payments for Obamacare individual insurance plans that were promised, Reuters reports.
The cost sharing subsidies lower out-of-pocket costs for Americans.
The White House said Wednesday that it would make payments for now, but gave no indication about the future.
In a letter sent to Congress Molina CEO Dr. Mario Molina said that without the payments the company would consider the government in default and drop its contracts for failing to pay premiums, Reuters added.
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