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.
Aetna’s move will sharpen concerns about competitive options in the exchanges—and it puts at least one county, Pinal in Arizona, at risk of having no insurers offering exchange plans in 2017, a circumstance that would present a major challenge to the basic mechanics of the ACA.
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The law mandates that most people acquire health coverage, and offers subsidies to help lower-income consumers purchase plans. To obtain the subsidies, though, people are supposed to purchase their plans through ACA exchanges.
Stephen Briggs, a spokesman for Arizona’s state insurance regulator, said the state currently has no insurers that have filed to offer exchange plans in Pinal, a county in the Phoenix area.
The four states where Aetna will remain on the ACA exchanges are Delaware, Iowa, Nebraska and Virginia. The insurer said it will maintain a considerably broader footprint for selling individual plans off the exchanges.
The list of states where Aetna will no longer offer ACA exchange plans includes around nine where UnitedHealth too is pulling out—among them are Arizona, North Carolina, Kentucky and South Carolina.Read the full story HERE, Follow a link to a related story and watch a related video below:
Aetna's exit deals blow to Obamacare, patients
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