Not directly driven by Obamacare, but the restrictions imposed on their other lines by Obiecare make it impossible for them to offset their Medicaid losses any more. Another example of the consequence of making public policy without understanding all of the interactions between the parts of the business you’re trying to regulate.
Didn’t Blue Cross and other providers have a cozy relationship with Obamacare? Or, was it more like cooperate or disappear? In any case, all of this was foreseen by those who know the business.
Having all carriers drop out of the health care insurance business is exactly what the end game of CommieCare is about. When they all drop out, you then have the government seize control of healthcare (for the good of the collective) and turn it into some bastard operation on the order of the British National Healthcare System. When controlling healthcare, the elite rulers can easily eliminate any dissent by withholding care for anyone who incurs their disfavor.