PHP to drop individual plans from “Obamacare” marketplace

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FORT WAYNE, Ind. (WOWO): A Fort Wayne-based insurance provider is dropping out of the Affordable Care Act.

Physicians Health Plan of Northern Indiana, otherwise known as PHP, says it won’t be selling individual insurance policies through the government’s marketplace anymore, saying they have lost millions of dollars on policies they’ve been made to sell as part of the so-called “Obamacare” exchanges.

PHP claims it pays $1.20 for every dollar it gets from the marketplace, and it cannot keep absorbing the loss, although the company will keep selling small group insurance plans through the ACA.

Read the company’s full statement here.

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