Aetna withdraws from Obamacare to retaliate for Department of Justice anti-merger lawsuit. When you give big bloated health insurance companies too much power, they abuse it. Is anyone surprised?
On Monday night, news broke that one of the five largest insurers in the US, Aetna, was leaving 70% of the counties in which it offers insurance through the Affordable Care Act’s public healthcare exchanges.
The move was seen as a huge blow to the future of the act, making Aetna the third large insurer, after United Healthcare and Humana, to significantly reduce its Obamacare business.
Aetna cited the large losses that the company has incurred from the exchange business — $200 million in the second quarter alone — when explaining its decision to roll back its business.
These statements, however, appeared to be a dramatic turnaround from the company’s first-quarter earnings call in April, when CEO Mark Bertolini said the firm planned to…
View original post 756 more words