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Blue Cross & Blue Shield of Nebraska to drop out of ACA individual marketplace

will drop out of the Affordable Care Act's individual insurance marketplace, effectiveJan. 1, 2017.

The companyclarified that the move will not affect Medicare Supplement or group plans, andthat it will continue to offer some individual plans on the private market througheither a licensed agent or its website.

The insurerstated it has lost about $140 million since it started selling individual planson the health exchange.

"Seriousissues with the health care law have made the public Marketplace unstable, whichis driving increased costs and decreased competition and consumer choice,"Blue Cross & Blue Shield of Nebraska said in a Sept. 23 news release.

The companyrecommended three changes to the ACA: the verification of eligibility of peoplethat access coverage through special enrollment periods, making changes to the riskpool and giving states more control over plan benefit design. It added that it willassess the feasibility of a possible return to the public marketplace in 2018.