IU Health Plans withdraw from Affordable Care Act exchange

INDIANAPOLIS - Indiana University Health Plans says it’s leaving the Affordable Care Act marketplace in Indiana, affecting about 27,000 people who it covered as of June.

The Indianapolis Business Journal reports that IU Health Plans said Monday that it had “restructured its product offerings for 2017.” The health care provider said it will no longer offer individual plans on the exchange because it needs to “adapt to new market dynamics.” It also uncertainty created when other insurers withdrew. Those include Physicians Health Plan of Northern Indiana and United Healthcare.

IU Health Plans said it has notified affected members and state insurance officials. It’s advising customers to look for other coverage.

Major insurers have pulled out of many state exchanges over rising costs. Federal officials have said they’re confident consumers will continue to find affordable options.