Michigan: UnitedHealthcare pulling out of exchange

Zachery Tracer of Bloomberg News reports some unfortunate but not unexpected news:

UnitedHealth Group Inc. plans to exit a third state Obamacare market as the insurer works to stem losses from its struggling Affordable Care Act business.

The insurer won’t sell policies through Michigan’s ACA exchange for next year, according to Andrea Miller, a spokeswoman for the state’s Department of Insurance and Financial Services. Georgia and Arkansas said last week that UnitedHealth will quit their exchanges for 2017.

...Fifteen insurers sold policies in the state for this year, U.S. data show.