It will exit markets including North Carolina, Pennsylvania and Florida, and keep selling plans in Iowa, Delaware, Nebraska and Virginia, Aetna said in a statement Monday. In most areas it’s exiting, Aetna will offer individual coverage outside of the program’s exchanges.
The decision by Aetna is the latest blow to President Barack Obama’s signature domestic policy law. While it has brought coverage to millions, the new markets have proven volatile for some of the largest for-profit insurers, and UnitedHealth Group Inc. and Humana Inc. are also pulling out, after posting hundreds of millions of dollars of their own losses. Aetna said earlier this year that it expects to lose $300 million on the plans.
Next year will be the law’s fourth of providing coverage under the new markets. Aetna’s decision doesn’t affect people covered by the company this year, but when they look for 2017 coverage, they’ll need to pick a new insurer. The decision raises the prospect that some consumers will only have one insurer to choose from when they buy 2017 coverage.
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Greedy health insurance companies care more about obscene (25%) profits than they do about trying to make sure Americans can afford to be healthy.
ReplyDeleteThe biggest problem with the Affordable Care Act is the lack of a public option.
Put all these middle men out of business and go single payer.
ReplyDeleteHow about an income surtax on all politicians who voted for this debacle (90% of their AGI) AND the same for any politician who voted for deficit spending, raising the debt ceiling, or cuts for vets or social security.
ReplyDeleteDon't fall for it, this is simply a tantrum by the Aetna CEO caused by his desired merger with Humana being squashed.
ReplyDelete12:45 as long as it is not run by our government!
ReplyDelete2:01 You speak the truth.
ReplyDeleteWhen the people who write the laws are not bound to them, this is what we get. If this health care plan is so good for us, the politicians should have the same health care !!!!!!!!!!!!!
ReplyDeleteThe Dems will blame the failure on Republican stonewalling and the media will back up the lie.
ReplyDeleteMaybe they finally read it after it passed.
ReplyDelete2:14 PM - Single payer provided by a non-government entity would be a private monopoly. You think your rates are high, now ?!
ReplyDeletelook I never wanted to buy more health care. I thought I had it coved with the state of Maryland when I retired. then I turned 64 and was told I did not need part b (because I had it already). Then when I turned 65 all hell broke out. I had no choose to do what I wanted. so now it is costing me $104.00 a month out of my ss. I have not been to a doctor in a long time. But yet I have pay out my nose. my check was $804 a month now it is $701. welcome to my life. not. (map)
ReplyDeleteI don't think it's that big a deal that Aetna is getting out of the exchanges. Most people I have talked to who tried to use the exchange and thought they would have a subsidy which would make their premium less, were very disappointed because they actually did not qualify for the much-hyped subsidy. But, if they want it, they will still be able to buy an Aetna policy through an insurance broker. No exchange needed.
ReplyDelete