Via Business Insider:
Aetna, the third-largest health insurer in the US, said Tuesday that it is reconsidering its offerings on the state exchanges that make up the back-bone of the Affordable Care Act (ACA).
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.
Here’s Bertolini (emphasis ours):
“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.”