The fourth-largest insurer in the state of Kentucky, Baptist Health, is pulling out of the ACA, SFGate reports.
Here's what you need to know.
1. Approximately 7,000 people will be without coverage, and nearly 60 of the state's counties will have a single insurer available to them in 2017.
2. The state's Governor Matt Bevin (R) lauded the decision saying the ACA has been a "financial impossibility from the moment it was put into place."
Adding, "You are going to see a slippery death spiral continue," he said. "I don't see it will stop until the entire system implodes."
3. Gov. Bevin is going to dismantle the state run exchange by the end of the year and use the federal exchanges.
4. Former Governor Steve Beshear (D) blamed the health plan's exit on Congress saying a funding measure should've protected the insurers through the initial ACA rollout period.
5. Baptist will continue to sell group and Medicare Advantage plans off the exchanges.
More coding, billing and collections news:
The complexities of properly staffing your ASC's business office.
5 key thoughts on ASCs navigating TJR reimbursement with commercial payers
UnitedHealthcare to leave Kansas ACA marketplace: 2 things to know