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Anthem CEO: Obamacare Markets “Are Not Sustainable”

Joesph Swedish said the fact Obamacare markets are not sustainable led to Anthem pulling out of Ohio.

Anthem CEO Joseph Swedish said on CNBC on Thursday that the Obamacare insurance markets “are not sustainable,” and this led to Anthem pulling out of Ohio’s insurance market.

“We’ve very carefully evaluated the sustainability of the marketplace under the Affordable Care Act, and we’ve also said that it’s possible without the right kinds of changes, with respective to funding levels and other regulations associated with the Affordable Care Act, that we may have to exit certain markets,” Swedish said.

“Those markets are not sustainable,” he added.

Anthem announced in early June that it will be pulling out of Ohio’s insurance markets due to the market’s volatility.