58,000 Californians to lose current insurance under Obamacare

Daily Caller - The nation’s largest health insurance company has decided to stop covering individuals in the nation’s largest state.

UnitedHealth Group Inc. said that it will not participate in California’s individual health insurance market beginning Jan. 1, 2014, when Obamacare regulations will take effect, according to the Los Angeles Times.

Last month,  insurance giant Aetna also announced that it will no longer cover individual Californians. Together, the companies’ decision to stop providing individual coverage will affect 58,000 existing customers in California.

The move is a result of new Affordable Care Act requirements for insurance companies to accept all applicants for individual coverage, including those with preexisting conditions. The law also requires insurers provide a bevy of new benefits for their customers.

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