{"id":655536,"date":"2026-05-21T01:38:09","date_gmt":"2026-05-21T01:38:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/655536\/"},"modified":"2026-05-21T01:38:09","modified_gmt":"2026-05-21T01:38:09","slug":"providence-to-exit-health-insurance-business-in-2027","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/655536\/","title":{"rendered":"Providence to exit health insurance business in 2027"},"content":{"rendered":"

Providence Health Plan is the third largest in Oregon. PHP’s total membership in Oregon is 421,000, with another 13,139 in Washington. It employs 1,150 people.<\/p>\n

PORTLAND, Ore. \u2014 Providence announced Wednesday that it will start to exit most of its insurance lines starting next year, amid a tough operating environment for regional carriers.<\/p>\n

The news lands about two months after Providence said it was exploring options<\/a> for the money-losing plan, including a sale. Portland-based Providence Health Plan (PHP), which is the third largest in the state, had a net loss of more than $100 million last year.<\/p>\n


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PHP’s total membership in Oregon is 421,000, with another 13,139 in Washington. It has 1,150 employees.<\/p>\n

RELATED: Providence explores sale of its health plan after $100M loss<\/a><\/p>\n

“We are doing this because changes in the healthcare environment \u2014 including state and federal regulation \u2014 have made it increasingly difficult for regional, not-for-profit health plans like PHP to thrive,” Providence President and CEO Erik Wexler said in a message to caregivers. “And it has become harder to support both running a health plan and delivering care. Meanwhile, the larger insurance companies have consolidated significantly, giving them the size and resources to operate more efficiently. This has left us in an untenable situation.”<\/p>\n

Coverage for PHP members will continue through 2026, but PHP will not renew or offer new employer group plans or individual and family plans for 2027, Wexler said. He said PHP will honor all existing contracts for insurance and healthcare and help members and employers navigate options for coverage.<\/p>\n

Wexler said it would continue to serve Medicare Advantage patients through a new agreement with a national carrier, which he didn’t name. Medicaid and Medicare Supplemental plans would be transferred to other organizations.<\/p>\n

“As I reflect on the direction above, my heart is both heavy and filled with deep appreciation for our caregivers and leaders at PHP,” Wexler said. “The direction we are taking is not a reflection of the quality of the plan or the dedication of the caregivers who support it. Rather, it is about responding to the signs of the times and remaining steadfast and focused on our core work of delivering care and becoming the best place to give and receive care.”<\/p>\n

Providence is the largest health system in Oregon, with eight hospitals.<\/p>\n

The Portland Business Journal is a KGW News partner.\u00a0Tap or click here<\/a>\u00a0to read more of their content.<\/p>\n","protected":false},"excerpt":{"rendered":"Providence Health Plan is the third largest in Oregon. PHP’s total membership in Oregon is 421,000, with another…\n","protected":false},"author":2,"featured_media":655537,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[97,252,253],"class_list":["post-655536","post","type-post","status-publish","format-standard","has-post-thumbnail","category-health-care","tag-health","tag-health-care","tag-healthcare"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/655536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=655536"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/655536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/655537"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=655536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=655536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=655536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}