Aetna Pulling Out of All but 4 States

Aug 16, 2016

  1. Ann H
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    In the latest blow to Obamacare, Aetna is vastly reducing its presence on the individual exchanges in 2017.

    The insurer will stop offering policies on the exchanges in 11 of the 15 states where it currently operates, according to a press release it issued Monday evening. Aetna (AET) will only sell Obamacare products in Delaware, Iowa, Nebraska and Virginia.

    Aetna said earlier this month that it was halting its exchange expansion plans for 2017 and reviewing its participation in President Obama's signature health reform program. The company noted Monday that it has lost $430 million in its individual policies unit since the exchanges opened in January 2014.

    Aetna, which had 838,000 exchange customers at the end of June, said its policyholders are turning out to be sicker and costlier than expected. The company, along with its peers, has criticized the federal program designed to mitigate those risks.

    "Providing affordable, high-quality health care options to consumers is not possible without a balanced risk pool," said Aetna CEO Mark Bertolini.

    The company will continue to offer individual policies outside of the Obamacare exchanges in the vast majority of markets where it now does business. Off-exchange products are not eligible for federal subsidies.


    Aetna to pull out of most Obamacare exchanges - Aug. 15, 2016

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    When I first titled the thread, I didn't realize that it says in a later paragraph, that they may do off-exchange. One ray of hope....

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    Here is how Forbes states it:

    Aetna said it will continue to offer “off exchange” individual products in “the vast majority of counties” where it offers “on exchange” products currently. Aetna said it would be informing its individual customers this fall during open enrollment when they can choose new benefits for 2017.

    Forbes also mentions that this is a pull-out of 500 counties.

    Forbes Welcome
     
    Ann H, Aug 16, 2016
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  2. AllenChicago
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  3. G.Gordon
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    I wonder if this is all Aetna owned plans to include CoventryOne... If so, we are down to one company in the KC market for on-x.
     
    G.Gordon, Aug 16, 2016
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  4. scagnt83
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    [​IMG]

    fitting.... since it will be the hard working middle income families that suffer because of this bureaucratic disaster
     
    Last edited: Aug 16, 2016
    scagnt83, Aug 16, 2016
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  5. Yagents
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    Libs should be impressed and be proud to own this piece of legislasheet.
    BCBS AZ will get some arms twisted today.
    Wouldn't doubt it if Cigna / PHP also pull out of Maricopa, and BCBS is only carrier left in state.

    Aetna to Drop Some Affordable Care Act Markets - WSJ


    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.

    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.

    “It’s a concern for us,” he said, but the regulator doesn’t “have any legal leverage to compel anyone to offer a plan.” However, the regulator is speaking to other insurers about offering exchange plans in Pinal, he said, and “circumstances could change.”

    A spokesman for the federal Department of Health and Human Services said, “we are working collaboratively with the Arizona Department of Insurance and remain confident that all Arizona residents will have access to coverage next year.”

    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
     
    Yagents, Aug 16, 2016
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  6. pahealthquotes
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    Anyone have Aetna/Coventry Per State enrollment figures ?

    I'm chomping at the bit over here.

    Joe

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    Aetna owns Coventry... I would assume that Coventry is out.

    Anyone have a press release regarding Coventry's business?

    Joe
     
  7. G.Gordon
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    Coventry is out, confirmed with my person at their office, more people headed for the unemployment line.
     
    G.Gordon, Aug 16, 2016
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  8. Yagents
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    Yagents, Aug 16, 2016
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  9. AllenChicago
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  10. tonyisme
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    FORE! Guess O won't be golfing here in Maricopa County where we have 220 courses... and other news Michael Phelps is coming to Maricopa County to work at ASU yeah!
     
    Last edited: Aug 17, 2016
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