Aetna Inc. will pull out of Delaware's health insurance marketplace next year, ending coverage for 11,854 Delawareans and leaving only one company still offering plans.

"I am disappointed that Aetna will not be servicing the health needs of Delawareans in 2018," Insurance Commissioner Trinidad Navarro said in a news release announcing the move Wednesday night. "Given the uncertainty and instability surrounding the future of the Affordable Care Act, however, I understand their reasoning."

BACKGROUND:Rates have been going up on the marketplace

THE LATEST:See the status of Republican attempts to replace Obamacare

Coverage through Aetna's marketplace plans will last through the end of 2017. Those with questions about their plan can contact the Department of Insurance at (800) 282-8611 or (302) 674-7300 or by email at DOI_Consumer_Resource@state.de.us.

Aetna says it lost about $700 million on individual policies between 2014 and 2016 and estimates it will lose $200 million in 2017.

Those losses come despite big rate hikes. Last October, the company got permission to increase monthly premiums by 18 to 35 percent.

Aetna is pulling out of ACA marketplaces entirely. It also announced Wednesday that it was pulling out of Nebraska and said last month it was exiting Iowa and Virginia.

Aetna and Highmark Blue Cross Blue Shield of Delaware are the only two companies offering coverage through the marketplaces.

The marketplaces were created as part of the Affordable Care Act, or Obamacare, to help Americans who don't receive health insurance through their employer.

Those participating in the marketplace have seen rapidly rising premiums, yet states have struggled to keep companies in them. Those problems are one of the big reasons why Republicans are calling for repealing and placing the ACA.

Sen. Chris Coons, D-Del., said the move was "frustrating and disappointing," but said the news shouldn't cause people to believe Obamacare is completely broken.

"The Affordable Care Act is far from perfect, and I've been trying for years to work across the aisle with my Republican colleagues to provide better options for families and businesses," Coons said in a statement. "I will continue to do that, but make no mistake, the Trump Administration and Congressional Republicans are solely focused on repealing the ACA and undermining the stability of the marketplace, rather than fixing it, and it’s driving up premiums for consumers."

Contact Matthew Albright or malbright@delawareonline.com, (302) 324-2428 or on Twitter @TNJ_malbright.