The largest insurance company in the U.S. is threatening to call it quits on PPACA exchanges.

UnitedHealth Group announced Wednesday that it might withdraw from the exchanges, after reporting major losses for the individual insurance plans it offers more than half a million people through the federal and state exchanges set up by the Patient Protection and Affordable Care Act.

"The company is evaluating the viability of the insurance exchange product segment and will determine during the first half of 2016 to what extent it can continue to serve the public exchange markets in 2017," the company said in a statement reported by USA Today.

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