Aetna (AET) said today that it will no longer sell Obamacare plans in Virginia next year, as the insurer expects financial losses on such plans in 2017, CNBC reports.
The Hartford, CT.-based firm's decision to exit Virginia in 2018 comes several weeks after it said it would drop out of Iowa's individual market next year.
"Despite significantly reducing our exchange footprint, our individual commercial products could potentially lose more than $200 million in 2017," Aetna spokesman T.J. Crawford said.
"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," he added. "We will communicate decisions on our remaining states as appropriate."