Anthem Blue Cross Blue Shield announced on Monday it would be exiting the individual marketplace in Nevada and almost half the counties in Georgia.
"While we are pleased that some steps have been taken to address the long-term challenges all health plans serving the Individual market are facing, the Individual market remains volatile," Anthem's Corporate Communications Director Kelli Stauning said in a statement.
The company cited increasing health care costs and a shrinking pool of participants along with uncertainty in the federal government's handling of the law.
"Today, planning and pricing for ACA-compliant health plans has become increasingly difficult due to a shrinking and deteriorating individual market, as well as continual changes and uncertainty in federal operations, rules and guidance, including cost-sharing reduction subsidies and the restoration of taxes on fully insured coverage," Anthem said.
Anthem plans to eliminate all exchange plans in 2018 and only offer one individual catastrophic plan in Nevada, but will continue offering employer-sponsored plans and any grandfathered individual policies along with Medicaid and Medicare plans.
According to Reuters, residents in 14 out of 17 Nevada counties will not have access to qualified health plans on the state exchanges in 2018.
The insurance carrier also announced it will only offer Obamacare plans in 85 of Georgia's 159 counties. The counties where Anthem plans to continue participating in the state are mostly rural, and residents there would otherwise not have health insurance coverage.
The U.S. Senate recently struck down the latest Obamacare replacement bill last month, while President Donald Trump has continued urging lawmakers to repeal the landmark legislation if they can't settle on a replacement plan.