The number of health insurers applying to participate in the Obamacare exchanges has declined 38 percent since last year, according to data from the Centers for Medicare and Medicaid Services.

Last year, there were 227 individual market qualified health plan insurers who submitted an application to offer coverage on the Affordable Care Act exchanges. This year, that number declined to 141, a drop of 86 insurers or 38 percent.

There is even a bigger decline from 2016 when there were 281 health insurers who applied, representing a 50 percent decrease.

“This is further proof that the Affordable Care Act is failing,” said Centers for Medicare and Medicaid Services Administrator Seema Verma.

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