Aetna (AET) said today that will reduce its presence in the Affordable Care Act exchanges in 2018 as it expects losses in the business this year, the Wall Street Journal reports.
Individual plans are a minute part of Aetna's overall business, and the insurer had already begun scaling back its exchange presence to four ACA marketplaces currently from 15 last year, the report said.
Aetna expects 2017 losses on its individual plans will amount to roughly half its loss last year, which was $450 million. Its individual enrollment is 255,000, down from roughly 964,000 at the end of 2016.
Shares of Aetna were higher around 1% during midday trading on Tuesday.