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Obamacare on Death Bed as Enrollment is Half the Expected Rate...
• https://mishtalk.com,Selling overpriced insurance to the healthy and underpriced insurance to the sick is not a good model for insurance companies.
Aetna is the latest insurer to say it has had enough. Aetna announced it withdraw from 11 of 15 states where it currently offers plans through the exchanges.
Pinal County Arizona, in the Phoenix area, may have no insurers offering plans.
The Wall Street Journal reports Aetna will reduce the number of counties where it sells exchange plans next year to 242 from 778.
Aetna Inc. will withdraw from 11 of the 15 states where it currently offers plans through the Affordable Care Act exchanges, becoming the latest of the major national health insurers to pull back sharply from the law's signature marketplaces after steep financial losses.
Blue Cross Blue Shield of Arizona said in June that it would withdraw from Pinal County and Maricopa County, in the wake of steep losses, but maintain its exchange presence in the remainder of the state. The nonprofit had said in June that it stayed in more-rural counties partly because it "couldn't overlook that several counties would have no options or very limited access if we didn't find a way to stay in the market." A spokeswoman had no immediate comment late Monday.