Aetna, the nation’s third largest health insurer, announced that it will pull out of Obamacare exchanges, citing losses of more than $430 million.
President Obama said he was gravely disappointed by their choice to quit before they ran out of money to lose
More context:
“Originally Aetna was planning to expand to New Jersey and Indiana in 2017. It currently operates in 15 states across the US.
“The decision by Aetna comes less than 4 months after the nation’s largest insurer, United Healthcare, decided to roll back almost all of its Obamacare offerings after sustaining losses and after the Department of Justice denied Aetna’s proposed merger with fellow-insurer Humana.”
— American Thinker | 03 August 2016 | Rick Moran
Another Major Insurer To Bolt Obamacare While Premiums Go Through the Roof
Blue Cross and Blue Shield of Minnesota Bails On ObamaCare After $500M Loss
Breitbart | June 24, 2016
Blue Cross Asking for 60 Percent Rate Hike for Obamacare plans in Texas in 2017
AP via Dallas News | June 1, 2016
Blue Cross To Stop Accepting Credit Cards for Insurance Payments
Chicago Tribune | May 2, 2016
Blue Cross Parent Lost $1.5 billion on Individual Health Plans Last Year (Illinois)
Chicago Tribune | 03/11/2016
ACA Growing Pains: Losses for Blue Cross Blue Shield of Texas Are Over Twice the U.S. Average
Dallas Morning News | 12/08/2015 |
Anthem Blue Cross Blue Shield Cuts Individual Plans From Health Exchange in Parts of Wisconsin
WBAY.COM | 19 October 2015 |
North Carolina Blue Cross Raises Obamacare Plan Premiums (35%)
CBN | August 07, 2015 |
Blue Cross Parent Posts Big Loss in First Year of Obamacare
Crain’s Chicago Business | June 5, 2015 |
[New Mexico] Blue Cross Seeking 51 Percent Premium Hike
The Albuquerque Journal | May 28, 2015
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And not to forget the other upside:
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Health insurer Anthem (Blue Cross) hacked; data on millions of patients, employees exposed
LA Times | February 4, 2015
Obama shows incredulity that a company stops its activity if it loses money because he has only know government where all you do is give money away, and if you give all you have you just tax some more to give away even more.
I’m surprised there’s not an exorbitant tax in place to punish insurance companies that opt out of the Obamacare exchanges.
(in Yoda voice) There will be,… there.. will.. be…
All going according to plan.