• Another ill-planned policy blunder by the elite in Washington.
By the Staff at AFP —
The Washington Post is reporting that insurance giant Aetna has decided to cease offering almost all of its individual health coverage through the Patient Protection and Affordable Care Act, commonly referred to as the Affordable Care Act, or Obamacare. Around 80% of Aetna’s customers will be affected in 11 of the 15 states where it offers coverage through Obamacare, which will soon collapse.
Aetna’s announcement “was the latest sign that large insurers are losing money in the Affordable Care Act’s marketplaces, heightening concerns about the long-term stability of a key part of Obama’s domestic policy legacy,” reported the Post.
Wall Street is of course calling the shots.
“If insurers continue to lose money, more are likely to withdraw from the marketplaces, a move that would reduce choices for consumers and could contribute to higher premiums,” writes the Post.
In one county, Aetna’s 2017 exit “could leave no insurers offering policies through its marketplace.”
Another insurer, Humana, said earlier this month that it will cut back its involvement in Obamacare. Ditto for UnitedHealth. Anthem and Cigna have said they are both losing money with Obamacare.