(Bloomberg) -- Welp. It's happening.

UnitedHealth Group announced on its earnings call Tuesday that it will bail on Obamacare's individual insurance exchanges in all but "a handful" of states in 2017. The company, which warned last fall it might take this step, expects to lose $650 million on exchanges this year. So far, 22 of the 34 states the company sold insurance in this year have confirmed the company will exit next year.

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