Posted on 08/03/2016 9:17:01 AM PDT by Lorianne
Aetna, Inc., the third largest health insurer in America, will not expand its Obamacare coverage into New Jersey next year as originally planned and is reassessing its participation in the Obamacare program.
In a conference call following the company's earnings announcement, CEO Mark Bertolini said that the firm has halted its plans to expand into two new states' exchanges in 2017 and is looking into the reasons for losses in the exchanges it is currently participating in.
"In light of the disappointing year to date performance and updated 2016 projections for our individual on and off exchange products, combined with the significant structural challenges facing the public exchanges, we believe it is only prudent to reassess our level of participation on the public exchanges. Our initial action will be to withdraw our 2017 public exchange expansion plans.Additionally, given the deadline to attest to our final rate filings for 2017, we are also undertaking a complete evaluation of our current exchange footprint as the poor performance of these products warrants such an analysis."
Originally Aetna was planning to expand to New Jersey and Indiana in 2017. It currently operates in 15 states across the US.
The decision by Aetna comes less than 4 months after the nation's largest insurer, United Healthcare, decided to roll back almost all of its Obamacare offerings after sustaining losses and after the Department of Justice denied Aetna's proposed merger with fellow-insurer Humana.
The move could also be worrying for consumers, since the number of insurers offering plans in a state is tightly correlated to the price of insurance.
As far as rate increases in other states, Illinois is being hit particularly hard:
(Excerpt) Read more at americanthinker.com ...
Enjoy the Obamacare screw job...its free!
Now that the worm has turned, they are like rats deserting a sinking ship.
We told them ObaMaoCare was designed to fail and produce single payer. They dismissed us as a bunch of right-wing nut-jobs.
I think even after Trump gets in there...with the GOP sitting in the Senate, there is no rhyme or reason for them to undo or fix this. They will continue to let it all slide.
Again, its not a “hit” on Obamacare. Yes, it IS more proof that Obamacare was a completely corrupt and bad idea - but it won’t effect the existence of Obamacare one bit.
Congress can/will do nothing about it. The Federal Government will just print more debt to pay for it, and it seems the average citizens who actually pay for their own health-care will continue to be screwed. In sum - no change in government, so deal with it.
I have a dream that Trump, once in, will, by executive order, put every politician, their families, and staff.. everyone on obamacare! Then say, ‘ you don’t like it, fix it!’.
Hey! A guy can dream, can’t he?
The lamestream media is HIDING bad news about 0bamacare to HELP HILLARY win in November, just as they HID THE TRUTH about Benghazi, TEA PARTY VOTER SUPPRESSION BY THE IRS, etc., to help 0dunga win in 2012!
Trump is running against the MEDIA, not JUST Hillary.
Had Aetna last year. Already been notified that they are pulling out of my county (VA). I think I’m down to two options now - Blue Cross and Humana.
If it stays true to form according to the last couple of years, premiums will go up 40%-60%.
Only a matter of time before BC/BS drops out too, which will leave only Humana. They will remain because they run the abomination known as TRICARE for the military, and they are probably in line to become the single payer option for the Govt.
Obama has a solution to this though. He is urging Congress to enact a government-provided alternative healthcare plan. In other words, the taxpayer picks up the entire bill. If the Democrats take the Senate and the White House, then I suspect that’s what will happen. There really is no alternative other than simply repealing Obamacare, which is unlikely.
Exactly. This is just a transition to single payer healthcare.
All part of the plan. What’s the solution? Can you say “Single payer system”?
"So, the crows have come home to roost. I have never been a fan of the current health care act. It has affected me personally, and now, it is affecting my disabled adult child. As of August 28th, my son, who has had skilled nursing care for over 20 years, will no longer receive health care services through Maxim. That is their corporate decision - from what we were able to glean in information, it is directly because med-waiver, of which he is the highest tier and of great complexity, doesn't pay them enough to continue his care. Up until this went in to full effect, everything was just fine. Now, not the case. I am unsure what we will do. I am uncertain of many more things now. Life just got a hell of a lot more complicated.
While I started with phone calls today to ADP, tomorrow we send letters and call the governor's office. This is bad for Peter, and very bad for me with respect to a full time job, and school. It is also bad for my husband - who also works. Maybe God does work in mysterious ways, for this was unforeseen when I was laid off. By the way - this isn't just my son - this is ALL of their Med-Waiver program participants across the state.
To all of those who believe that the health care administration act was a good thing - think again.
I’m going to be on medicare in a couple years. I wonder what I’ll be looking at with all the part a’, b’s, c’s and d’s? Are those costs going to skyrocket?
My guess is yes.
They have to skyrocket to support the Obamacare/Medicaid Ponzi scheme.
What gets me is that the people who run these companies should have seen this coming.
The math on this would never work.
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