Skip to comments.Aetna to exit California's individual insurance market
Posted on 06/15/2013 2:04:05 PM PDT by mdittmar
Aetna Inc (AET.N) said on Saturday it has notified California's insurance regulator that it plans to stop selling health policies to individual consumers in the state at the end of 2013.
The company will continue to offer health insurance to employers and Medicare beneficiaries in California, as well as dental and life-insurance products, Aetna spokeswoman Anjie Coplin told Reuters. But people with individual health coverage with Aetna will have to find alternative coverage by year's end.
Aetna had informed California Insurance Commissioner Dave Jones of its decision to exit the market, Coplin said, but it was still in the process of notifying members and brokers.
The move comes as California, the country's most populous state, prepares for the fall launch of a state health exchange authorized by President Barack Obama's Affordable Care Act.
(Excerpt) Read more at reuters.com ...
I thought I could keep my insurance....
I believe it was Otter who told Flounder something about trust ...
Only 49,000 will lose theirs in California due to obamacare,but they can go to that new government exchange to find some.
Pool insurance favored as are those already in Gov't programs (Medicare).
Individuals who want to live independently and make their own decisions? Forget about it.
“affordability” when there is no one offering the product is about as useful as advertising to fleas.
If Aetna can simply pull out of one of the most lucrative states, it can do the same pretty much anywhere. If you’re in a state that has jumped on the exchange bandwagon, watch your insurance carrier carefully (not just Aetna).
Not that there’s going to be anything you can do about it.
on the brighter side, doctors are slashing prices for those paying in cash
Everything Obama touches turns to crap.
My individual policy issuer dumped Texas before Obamacare.
And some are opening up concierge practices. It’s the 21st Century version of apartment buildings going condominium. Pay a couple thousand per year, flat rate, see them whenever for minor and routine things.
Major items get referred out, of course, so there would still be incentive to hold a Major Medical only policy.
Unfortunately socialists are deliberately forcing us in the opposite direction: less free markets, fewer choices, less competition, more overhead. After 60+ years of interfering with the health care industry, they sense their ultimate goal is within reach - single payer, government run, government controlled health care. Power and votes in perpituity for them, shared mediocrity and misery for everyone else. Very sad to see this happening before our eyes.
I agree but how long until “major medical”-only policies are illegal because this government wants every policy to cover everything?
Interesting thing is that the concierge services seem to be growing fastest in some blue states like WA, OR.
hope you didn’t vote for change counting on that bit of thinking
I agree, but with the ban on new or expanded physician-owned hospitals I have a feeling they will want to ban people paying for their own healthcare. I don’t see the GOPe doing much about it.
I haven't seen a one yet in southeastern WA (red) but maybe they don't market in my trailer park.
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