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Anthem says Q3 profit slipped nearly 6%

Modern Healthcare: Anthem on Wednesday said its profit for the third quarter of 2016 fell nearly 6% as higher medical claims and expenses related to its pending tie-up with Cigna squeezed earnings.Anthem CEO Joseph Swedish also said results in the insurer's individual ACA business “were disappointing” due to low membership growth and higher than expected medical costs from members with chronic diseases. If the marketplace does not soon show progress toward sustainability, Anthem will likely re-evaluate its 2018 participation, he said.“2017 is a critical year as we continue to assess the long-term viability of our exchange footprint,” Swedish said during a conference call with investors.

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