Another insurer – Molina Healthcare – says it may pull out of ObamaCare after it saw profits plunge.

“There are simply too many unknowns with the marketplace program to commit to our participation beyond 2017,” Molina CEO J. Mario Molina aid Wednesday during a conference call with investors, Bloomberg News reported.

The health insurer put the blame for massive losses on former President Obama’s signature Affordable Care Act, a law President Trump has vowed to repeal.

“While we experienced strong enrollment growth across our business and have made progress on our cost cutting efforts, [Wednesday’s] results highlight the continuing challenges we face in the ACA marketplace,” the company said in a statement.

The Medicaid-focused company reported a net loss of $91 million for the fourth quarter compared with a profit of $30 million the year before.

The company’s threat to drop out of ObamaCare came hours after the Aetna CEO Mark Bertolini said the Affordable Care Act markets were “in a death spiral.”

Bertolini predicted that more health insurers will bail out of ObamaCare next year.

Humana Inc. announced Tuesday that it would drop out of the market in 2018 as a result of a large losses.

“All of these actions were taken with the expectation that the company’s Individual Commercial business would stabilize to the point where the company could continue to participate in the program,” Humana said in a statement.

“However, based on its initial analysis of data associated with the company’s healthcare exchange membership following the 2017 open enrollment period, Humana is seeing further signs of an unbalanced risk pool.”

“Therefore, the company has decided that it cannot continue to offer this coverage for 2018.”

With Post Wires

Our editors found this article on this site using Google and regenerated it for our readers.