Baptist Health Plan announces plan to withdraw from state insurance market

Published: Oct. 3, 2016 at 11:05 AM EDT
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About 7,000 Kentuckians are going to have to find new health insurance.

Baptist Health Plan announced Monday that it intends to withdraw from Kentucky's individual insurance market in 2017.

In a letter to Kentucky Department of Insurance Commissioner Brian Maynard, Baptist Health Plan president James Fritz indicated that Baptist enrolled more members in the individual market than anticipated in 2016.

Fritz also says the federal risk assessments "placed upon the organization under the Affordable Care Act is unsustainable by a corporation the size of Baptist Health Plan."

Members impacted by the discontinuation will be allowed to continue coverage with Baptist through Dec. 31 if they are insured on exchange through the Affordable Care Act.

Those insured off exchange directly through Baptist Health Plan will be covered through March 31, 2017.

Baptist will provide notice of its withdrawal to all members.