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Aetna CEO: Obamacare is in a 'death spiral'. Insurers will have to pull out!
Posted on 2/15/17 at 1:58 pm
Posted on 2/15/17 at 1:58 pm
“It’s not going to get any better; it’s getting worse.”
quote:
POLITICO
Aetna CEO: Obamacare markets are in a 'death spiral'
By Paul Demko
02/15/17
Obamacare is in a “death spiral,” the influential CEO of Aetna, Mark Bertolini, declared Wednesday morning.
Bertolini’s doomsday prophesy: More insurers will pull out of the government-run marketplaces in the coming weeks and many areas will have no insurers to provide Affordable Care Act coverage in 2018.
“It’s not going to get any better; it’s getting worse,” Bertolini said in an interview at a Wall Street Journal event.
But he declined to say whether Aetna would completely pull out of Obamacare markets next year, though he said the population of covered people in the marketplaces has skewed older and sicker than expected.
Bertolini's broadside came just moments before the Trump administration released a proposed rule designed to make changes to Obamacare regulations that are designed to temporarily stabilize the law's insurance marketplaces as Republicans pull together a replacement plan. The proposal outlines several policies sought by health insurers that would shore up the market until Congress settles on an Obamacare repeal plan and possibly a replacement
Humana, which had already significantly limited its exchange footprint this year, announced Tuesday that it would completely pull out of the exchange markets . . .
LINK
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Posted on 2/15/17 at 1:59 pm to NC_Tigah
This can't be true. BamaAtl said Obamacare was perfect
Posted on 2/15/17 at 1:59 pm to NC_Tigah
The well duh quote of the week!
Posted on 2/15/17 at 1:59 pm to NC_Tigah
Same CEO who dropped out of some markets not due to cost, but to help his merger plans along?
Yeah, let's trust that he's on the level this time.
Yeah, let's trust that he's on the level this time.
Posted on 2/15/17 at 2:00 pm to NC_Tigah
Only fools thought it would work. Only bigger fools thought the we didn't see this as an attempt to socialize medicine further.
Libs love some big mommy government.
Libs love some big mommy government.
Posted on 2/15/17 at 2:03 pm to BamaAtl
OMG, the CEO of a private sector company making business decisions rather than running a charity; the horror!! 
Posted on 2/15/17 at 2:04 pm to roadGator
quote:
Only fools thought it would work.
So, repeal it with no replacement. What is the Republican party waiting for?
Posted on 2/15/17 at 2:04 pm to BamaAtl
The merger is over, it has been denied. I assume you are implying this is out of spite rather than an effort to protect his business.
Posted on 2/15/17 at 2:04 pm to NC_Tigah
Obamacare will have to die on its own. We can't rely on the GOPe to repeal it.
Posted on 2/15/17 at 2:05 pm to jrodLSUke
quote:
OMG, the CEO of a private sector company making business decisions rather than running a charity; the horror!!
yeah, the nordstroms CEO was clearly out line for cutting Ivanka's product line.
Posted on 2/15/17 at 2:06 pm to BamaAtl
quote:You really want to go there?
Same CEO who dropped out of some markets not due to cost, but to help his merger plans along?
Humana to leave 2018 ACA exchanges
Posted on 2/15/17 at 2:06 pm to BamaAtl
quote:
Same CEO who dropped out of some markets not due to cost, but to help his merger plans along?
You're getting your talking points from Elizabeth Warren.
Not due to cost? Aetna lost $200 million on Obamacare plans. Fact. So yes... due to cost.
Posted on 2/15/17 at 2:06 pm to NC_Tigah
Of course he said that, it is in his best interest for it to fail. You all are such sheep.
Posted on 2/15/17 at 2:08 pm to Sao
quote:
So, repeal it with no replacement
Dems can demand the billions from congress to keep it afloat on CSPAN if they want.
Just say, we want to raise your taxes by this much for this purpose. Let the people decide.
Besides, with no insurers there really isn't an ACA to worry about.
Posted on 2/15/17 at 2:10 pm to TheHumanTornado
quote:
Of course he said that, it is in his best interest for it to fail. You all are such sheep.
How does this make any sense? Aetna entered the market. It was in his best interest for it to succeed. They are pulling out because it's a failed piece of legislation that was costing citizens and health insurers millions of dollars.
Government intervention will always fail when it requires private entities to engage in bad business.
Posted on 2/15/17 at 2:12 pm to TheHumanTornado
quote:
Of course he said that, it is in his best interest for it to fail. You all are such sheep.
It's in the best interest of all of us for it to fail unless you are a fan of higher taxes, larger government and a larger dependent class. I assum you are a lib so you may be interested in all of that.
Posted on 2/15/17 at 2:13 pm to Sao
You thought it would work, didn't you?
Posted on 2/15/17 at 2:16 pm to TheHumanTornado
quote:Why?
it is in his best interest for it to fail
Posted on 2/15/17 at 2:16 pm to NC_Tigah
Trump admin and republican congress will have to do something about it sooner than expected.
Posted on 2/15/17 at 2:28 pm to TheHumanTornado
quote:UnitedHealthcare . . . out!
Of course he said that, it is in his best interest for it to fail. You all are such sheep.
quote:
UnitedHealthcare, the nation’s largest insurer, indicated early in 2016 that it was having financial trouble with its exchange business. Indeed, it released estimates that it lost $475 million on ACA-compliant plans in 2015 and expected to lose more than $500 million in 2016.
Tami Luhby, “UnitedHealth Expects to Lose Nearly $1 Billion on Obamacare.”
Accordingly, for 2017, the company exited 31 of the 34 states where it offered exchange coverage in 2016.
LINK
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