FRANKFORT, Ky. (AP) - Baptist Health Plan says it will not sell individual policies in Kentucky next year, meaning about 7,000 people will have to find a new insurance provider.
Kentucky's fourth-largest insurer notified state officials in a letter. In a news release, state officials say company President James S. Fritz said Baptist Health Plan had enrolled more people than it planned and said federal risk assessments imposed by the federal Affordable Care Act are "unsustainable."
The company's insurance plans sold on the state's health exchange will be good through Dec. 31. Plans sold off the exchange will expire March 31.
The news means next year people in 59 counties will have one insurance provider selling plans on the state health exchange. Off the exchange, most counties will have two options, state officials said.