Posted on 05/10/2017 4:31:20 PM PDT by Enlightened1
Health insurance giant Aetna said Wednesday that it will not be participating in any Obamacare exchanges in 2018.
"Our individual commercial products lost nearly $700 million between 2014 and 2016, and are projected to lose more than $200 million in 2017 despite a significant reduction in membership," T.J. Crawford, Aetna spokesman, said in an email.
The reason for the losses, he said, came from structural issues within the exchanges "that have led to co-op failures and carrier exits, and subsequent risk pool deterioration." He did not cite uncertainty over the future of Obamacare, as the company had done when it announced last week that it would be exiting the exchange in Virginia.
Aetna also announced in early April that it would be pulling out of the exchange in Iowa, and the latest announcement adds Delaware and Nebraska to that list, both on and off the exchange.
nsurers have lost money in the exchanges for a variety of reasons, including that not enough young and healthy people enrolled in the federally-subsidized plans to offset the cost of covering older and sicker individuals with higher medical spending.
Aetna had participated in several Obamacare exchanges, but dramatically reduced its participation for 2017 soon after the Obama administration's Department of Justice challenged the company's planned merger with Humana. The federal judge who decided the antitrust case, effectively blocking and terminating the merger, wrote in his opinion that Aetna appeared to reduce its exchange participation as backlash against the Obama administration's attempt to block the merger. Aetna has maintained its decision to leave the exchanges was based on $450 million in losses it suffered in 2015 on account its exchange participation.
(Excerpt) Read more at washingtonexaminer.com ...
Obamacare imploding on itself.
Yet Democrats still cling to ObamaCare™ and refuse to help build a new system. Astounding idiocy.
Aetna. Did they or did they not support Obamacare in the beginning?
The company I work at use to have Aetna . Now I know why we are changing..
This is why republicans shouldn’t have freakin’ touched it...they own this now, and the media will never stop saying everything was awesome until trump touched it
Demtards will not blame it on obammy, but tell us Trump somehow failed to manage it.... bastards and jackasses
Oh yeah they helped write the bill with other insurance companies.
It was for a quick gains in profits on Wall Street for the health insurance companies with high monthly premiums and deductibles.
The companies brief profits, went from 15 Billion to 35 Billion a year initially. However, with the increase of monthly premiums fees and higher deductibles each new year people signed up but quit paying.
Now we are witnessing the implosion as Obamacare always intended to do. Affordable it was not. It was actually a lot cheaper with the older health care.
The media and the dems will blame it on Trump.
Sort of agree. Why not just defund it and let those who want to stay with Obamacare do so. I know that probably can’t be done in any way, but it’d be nice to have an alternate plan to Obamacare that all half way intelligent citizens would stand in line to support. The rest could stay in Obamacare and pay double.
Well it looks like we are going to get that.
What just passed the House..... It still has to pass the Senate and signed by the President.
For the record, the new bill, that was passed by the House, defunds Planned Parenthood. This really upsets the Democrats in the Senate and it will probably fail in the Senate at this point.
President Trump mentioned what you are talking about. While politically it would be a HUGE win..... He said the fallout of the people hurt by it would not be ethically responsible. Hence, why he is trying to give it some life.
Although if it fails the Senate and Obamacare crashes. President Trump looks okay because he tried to fix it. It was the Democrats that blocked it because they do not Trump to get the credit and it defunds planned parenthood. For the record, that’s why the Freedom Caucus signed on to the bill (defunding of planned parenthood).
It is Trump playing 4D Chess. He wins no matter what happens. If it passes the Senate, he destroys Obamacare, planned parent hood is defunded and the DNC has a fit. If Senate blocks it, then it implodes on itself making the Obamacare and the Democrats look bad. While Trump looks good for trying to pass a bill to save it.
They already have!
Hahahahahahahahahahahahahahaha
But they’ll blame Trump.
This is about single payer/Medicaid nothing more.
All by design.
Republicans should have gotten rid of the mandate...through legislation not a President going....oh, nevermind. Then they could pass legislation saying American citizens can have any insurance they want. Then watch the insurance companies scramble to put all kinds of new plans back in the market like before and watch Obamacare implode.
They’re really not very smart.
Almost what I said in my post #17
Those are not “losses”.
The financial situation is extreme profit minimization.
Were it not so costly, the new republican plan ought to have a provision that allows idiots to keep their obamacare, perhaps with a provision that if you choose to keep it, you’re stuck with it for a minimum of 2 years or more.
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