Aetna Out of IFP

[Dave020]

On Friday Aetna announced the closer of IFP business in CA by 12/31/13.

Today Aetna notified CA brokers that it will cease accepting any new IFP business effective immediately. Any apps still in process on 6/24 will be mailed back.

 

[STIBROKER]

On Friday Aetna announced the closer of IFP business in CA by 12/31/13.

Today Aetna notified CA brokers that it will cease accepting any new IFP business effective immediately. Any apps still in process on 6/24 will be mailed back.

Aetna to Leave California Individual Insurance Market - WSJ.com

 

[AllenChicago]

There's an echo in the California forum, lol. I posted the same information here three days ago.

 

[Dave020]

The WSJ article deals with end of year stuff--not selling in 2014.

My post is about what was announced this morning, they have shut off all new IFP sales in CA effective immediately. Don't even bother to submit an app in CA now. No new IFP business after 7/1 effectives. If it ain't enrolled by 6/24 it will get bounced and mailed back.

 

[Yagents]

Aetna stock is up 2% today on the news......go figure.

Obviously the market feels O'care is bad for health stocks, but the prices over the past 3 years don't reflect it. Probably due to the small portion of income related to IFP in these large diverse revenue models.

I don't have access to WSJ, care to post text?
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Does This Move Defeat the Purpose of Obamacare? (AET)