New York Hospital Cites Repeal Drama in Closing Obamacare Unit
- Northwell’s CareConnect had ‘no viable path to profitability’
- CEO points to Washington tumult, regulatory flaws in statement
Why Insurers Are Quitting Obamacare
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New York State’s biggest hospital system plans to stop selling Obamacare plans, blaming a costly plank of the law and uncertain prospects for a fix amid a wider Washington brawl over health care.
Northwell Health said in a statement that it will wind down its four-year-old CareConnect Insurance Co. business over the next year, after it suffered financial losses linked to a program designed to steady the exchanges where consumers can buy coverage.