1.4 million people are about to lose their current Obamacare coverage

The exodus of insurers from the Affordable Care Act (ACA) is going to lead to a massive shift in coverage next year.

According to an analysis by Bloomberg's Zachary Tracer, Tatiana Darie, and Katherine Doherty, roughly 1.4 million Americans will lose the coverage they have currently through the ACA, better known as Obamacare, exchanges and have to find a new plan.

Top issues of 2016

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2016 issues: Health, Obamacare opinions, Medicare, Abortion
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2016 issues: Health, Obamacare opinions, Medicare, Abortion
MANHATTAN, NEW YORK CITY, UNITED STATES - 2015/08/22: Assembly of some 150 anti-abortion protesters behind barricade in front of Planned Parenthood. A coalition of anti-abortion protesters protested on Mott Street in Manhattan in front of Planned Parenthood. (Photo by Andy Katz/Pacific Press/LightRocket via Getty Images)
MANHATTAN, NEW YORK CITY, UNITED STATES - 2015/08/22: Protester with Baby Doe sign in front of Planned Parenthood. A coalition of anti-abortion protesters protested on Mott Street in Manhattan in front of Planned Parenthood. (Photo by Andy Katz/Pacific Press/LightRocket via Getty Images)
WASHINGTON, DC - JULY 28: Republican presidential candidate Dr. Ben Carson speaks at a anti-abortion rally opposing federal funding for Planned Parenthood in front of the U.S. Capitol July 28, 2015 in Washington, DC. Planned Parenthood faces mounting criticism amid the release of videos by a pro-life group and demands to vote in the Senate to stop funding. (Photo by Olivier Douliery/Getty Images)
WASHINGTON, DC - JULY 28: Republican presidential candidate, U.S. Sen. Ted Cruz (R-TX) speaks during a Anti-abortion rally opposing federal funding for Planned Parenthood in front of the U.S. Capitol July 28, 2015 in Washington, DC. Planned Parenthood faces mounting criticism amid the release of videos by a pro-life group and demands to vote in the Senate to stop funding. (Photo by Olivier Douliery/Getty Images)
UNITED STATES - JANUARY 22: Pro-choice protesters chant in front of the Supreme Court on Thursday, Jan. 22, 2015, the anniversary of the Roe v Wade abortion decision. (Photo By Bill Clark/CQ Roll Call)
UNITED STATES - FEBRUARY 5: Sen. Marco Rubio, R-Fla., testifies during the House Oversight and Government Reform Committee hearing on 'ObamaCare: Why the Need for an Insurance Company Bailout?' on Wednesday, Feb. 5, 2014. (Photo By Bill Clark/CQ Roll Call)
UNITED STATES - JUNE 25: Affordable Care Act supporters hold up signs outside the Supreme Court as they wait for the court's decision on Obamacare on Thursday, June 25, 2015. (Photo By Bill Clark/CQ Roll Call)
UNITED STATES - JUNE 25 - Supporters of the Affordable Care Act celebrate as the opinion for health care is reported outside of the Supreme Court in Washington,Thursday June 25, 2015. The Supreme Court on Thursday upheld the nationwide tax subsidies under President Barack Obama's health care overhaul, in a ruling that preserves health insurance for millions of Americans. (Photo By Al Drago/CQ Roll Call)
RICHMOND, CA - MARCH 31: Posters about Obamacare are posted on a window during a healthcare enrollment fair at the Bay Area Rescue Mission on March 31, 2014 in Richmond, California. SEIU-United Healthcare Workers West (SEIU-UHW) held the fair to help people sign up for free and low-cost health coverage through Medi-Cal or Covered California on the final day before the sign-up deadline. (Photo by Justin Sullivan/Getty Images)
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Bloomberg estimated the number by calling the insurance regulator in each state and asking how many people would be impacted. A few states, such as Georgia and Texas, either didn't answer Bloomberg or did not have enough data.

Eleven states and Washington DC said they would be unaffected.

According to the Bloomberg report, the states with the most turnover are Florida, North Carolina Tennessee, Illinois, and Pennsylvania.

The shift is primarily due to insurers leaving the marketplaces where they operated. Large firms such as Aetna, UnitedHealthcare, and Humana have all announced rollbacks of their Obamacare coverage for 2017.

Some states, such as Minnesota, Tennessee, and South Carolina have seen so many insurers leave that it has pushed the exchanges to the brink, lead to large premium increases, and have state lawmakers worried.

These insurers are reducing coverage due to the unexpectedly high costs of the pool of people entering the exchanges. The people that have signed up so far have been sicker and older than expected, meaning they are net losses for the insurers. Younger people have not jumped onto the exchanges as anticipated, leaving the insurers without a counterbalancing group to pay into the pool.

The Obama administration recently announced new initiatives and rules to help mitigate these problems.

The open enrollment period for 2016 opens November 1 and end at the end of January.

Read the full Bloomberg coverage here.

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