As another major health insurance company exits the vast majority of Obamacare exchanges and many U.S. states are forecasting massive premium increases later this year, a leading health care expert says the Obamacare death spiral is already beginning.
Late Monday, Aetna announced it was pulling out of Obamacare exchanges in all but four U.S. states as a result of large financial losses. The company reported $200 million in pre-tax losses in the second quarter of 2016 alone.
“As a strong supporter of public exchanges as a means to meet the needs of the uninsured, we regret having to make this decision,” said Aetna CEO Mark Bertolini in a written statement.
Galen Institute President Grace-Marie Turner told WND and Radio America Aetna’s decision to largely abandon the exchanges is a huge development.
“Aetna was all-in in not only trying to get the law passed but also to try to make this work,” she said. “So with Aetna throwing in the towel, I think it really shows the way this law is structured, and particularly the way it’s been implemented, just does not work.”...........Read more
Late Monday, Aetna announced it was pulling out of Obamacare exchanges in all but four U.S. states as a result of large financial losses. The company reported $200 million in pre-tax losses in the second quarter of 2016 alone.
“As a strong supporter of public exchanges as a means to meet the needs of the uninsured, we regret having to make this decision,” said Aetna CEO Mark Bertolini in a written statement.
Galen Institute President Grace-Marie Turner told WND and Radio America Aetna’s decision to largely abandon the exchanges is a huge development.
“Aetna was all-in in not only trying to get the law passed but also to try to make this work,” she said. “So with Aetna throwing in the towel, I think it really shows the way this law is structured, and particularly the way it’s been implemented, just does not work.”...........Read more
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