— Allahpundit (@allahpundit) May 10, 2017
Just how affordable is the Affordable Care Act? So affordable that insurers can’t afford to participate. Insurance giant Aetna has evidently decided that enough is enough:
Aetna is completely out of the exchanges. https://t.co/ngovChBLT8
— Megan McArdle (@asymmetricinfo) May 10, 2017
Aetna quits Obamacare, leaving ACA markets increasingly vulnerable https://t.co/ResYAFMmJt pic.twitter.com/C5ADsTlVzq
— Bloomberg (@business) May 10, 2017
#BREAKING: Aetna completely exits Obamacare exchanges, cites massive losses https://t.co/nC7jpMnrxw pic.twitter.com/NCiG5ZOUkA
— Washington Examiner (@dcexaminer) May 10, 2017
More from the Washington Examiner:
“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.
Gosh. It’s almost as if Obamacare has had a powerful negative impact on the health insurance market. But that’s unpossible!
Never could've seen thatt coming could we?
— Nicholas Pearce (@WarDamnGunners) May 10, 2017
https://twitter.com/ScottCattanach/status/862431540961214465
Obama's doomed legacy……….
— Part-Time-Political (@HonestAbeNotPC) May 10, 2017
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