Anthem sees profits rise after scaling back participation in ObamaCare

Anthem sees profits rise after scaling back participation in ObamaCare
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Anthem experienced a profit boost in the first quarter of 2018 after scaling back its participation in the ObamaCare markets, the health insurer announced Wednesday. 

Anthem's profits increased 30 percent to $1.3 billion, compared with the first quarter of last year. 

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The company announced last year it would sell fewer ObamaCare plans in 2018, citing uncertainty and instability in the markets. 

Instead, Anthem has focused on growing its Medicare Advantage business. 

Enrollment in these plans grew by 237,000 during the first quarter. 

Overall, however, enrollment dropped by 2.5 percent, driven mostly by the insurer's decision to sell fewer ObamaCare plans. 

"We are pleased with our first quarter 2018 financial performance, which reflects our commitment to strong medical cost performance by effectively leveraging community based innovative and integrated clinical and value based care models across our markets," said Gail Boudreaux, Athen's president and CEO.