Thursday, May 11, 2017

The Last Exchange

Adios, Aetna:
While the move is likely to attract outsize political attention, the decision affects just Delaware and Nebraska. The Hartford, Connecticut-based insurer already said last year it would pull out of 11 states, and in the last month announced plans to exit Iowa and Virginia.

“At this time have completely exited the exchanges,” Aetna said in a statement Wednesday. The insurer will also stop selling non-Obamacare individual plans in Delaware and Nebraska.

Aetna had indicated it might pull out earlier this month, when Chief Financial Officer Shawn Guertin said the company would take steps to limit its financial losses in the program. Aetna has said it expects to lose more than $200 million on individual health plans this year in the four states where it’s still selling Affordable Care Act plans.
All is happening as it was foreseen...

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