Aetna announced on August 2nd that it plans to halt its Obamacare expansion in 2017. Like other major players in the insurance market, Aetna continues to lose money on the exchange plans. They will also determine whether or not they will continue to offer these contracts at all moving forward.
United Healthcare, Humana and Anthem Inc. also have concerns about the high losses they are incurring from their Obamacare plans.
Mark Bertolini, Aetna’s CEO, who previously “believed the insurer had an obligation to stick with the public health exchange” has changed his opinion on the matter. He currently believes everyone is losing money on the exchange plans because the patients who signed up for these plans in 2016 proved to much sicker than those who enrolled in 2015. Something no one could predict, but causing a loss nonetheless.
Read the full Medscape article for further information on the above topic and the “Merger Battle” Aetna is currently facing.
Article Published by: Modern Healthcare: August 03,2016