Molina Healthcare said Wednesday that it is pulling out of Utah’s Affordable Care Act marketplace, leaving two insurance options for most Utahns next year.
The Long Beach, Calif.-based company said the move was part of a restructuring after a $230 million loss in the second quarter. Molina also announced that it was leaving the Wisconsin marketplace by the end of the year.
“Molina’s unexpected decision to leave the Utah marketplace is disappointing to Utah consumers who deserve more choices and competition,” Matt Slonaker, executive director of the Utah Health Policy Project, said in a statement. “But it is also a reflection of the political uncertainly that has plagued the health insurance industry in recent months.