Aetna completely exits Obamacare exchanges, cites massive losses

Aetna completely exits Obamacare exchanges, cites massive losses

Health insurance giant Aetna said Wednesday that it will not be participating in any Obamacare exchanges in 2018.

"Our individual commercial products lost nearly $700 million between 2014 and 2016, and are projected to lose more than $200 million in 2017 despite a significant reduction in membership," T.J. Crawford, Aetna spokesman, said in an email.

The reason for the losses, he said, came from structural issues within the exchanges "that have led to co-op failures and carrier exits, and subsequent risk pool deterioration." He did not cite uncertainty over the future of Obamacare, as the company had done when it announced last week that it would be exiting the exchange in Virginia.

Aetna also announced in early April that it would be pulling out of the exchange in Iowa, and the latest announcement adds Delaware and Nebraska to that list, both on and off the exchange.

Click link for entire article...

I believe this ends the one insurance carrier in Iowa, bringing the exchange there to no insurance companies. Fort those who use Aetna this will affect you.

On the political side it reinforces whats been said - Obamacare is failing as it is and needs to be fixed or scrapped and replaced.

a reply to: Xcathdra

On the political side it reinforces whats been said - Obamacare is failing as it is and needs to be fixed or scrapped and replaced.

No, no. It's working exactly as intended.

originally posted by: GodEmperor
a reply to: Xcathdra

On the political side it reinforces whats been said - Obamacare is failing as it is and needs to be fixed or scrapped and replaced.

No, no. It's working exactly as intended.

Lol... I am sure that will continue to be the position of Democrats.

a reply to: Xcathdra

It is.

It' was a 3 part plan, and part 1 was skipped, while part 2 and 3 were very expensive and detrimental to the economy without part 1.

Essentially it exists as a threat, as intended, until single-payer is addressed as the way forward, or absolutely not.

If the answer was as clear as 'absolutely not' right now, it would be eliminated and hated even by Democrats, until their snarky timebomb plan is addressed. The only certain thing is the longer it takes, the more it will cost.

originally posted by: Xcathdra

originally posted by: GodEmperor
a reply to: Xcathdra

On the political side it reinforces whats been said - Obamacare is failing as it is and needs to be fixed or scrapped and replaced.

No, no. It's working exactly as intended.

Lol... I am sure that will continue to be the position of Democrats.

You're under the assumption it was supposed to fix the current health care system.

How would we get single payer that way?

a reply to: Xcathdra

I had great health insurance with my employer. Unfortunately Obama care not only made it unfeasible for us to keep it, my individual health insurance would have been almost $400.

I used to pay a fourth of that, my employer payed half, but still a lot less than now.

Not to mention how many people lost full time jobs because businesses couldn't afford the implications.

originally posted by: Xcathdra

originally posted by: GodEmperor
a reply to: Xcathdra

On the political side it reinforces whats been said - Obamacare is failing as it is and needs to be fixed or scrapped and replaced.

No, no. It's working exactly as intended.

Lol... I am sure that will continue to be the position of Democrats.

No, it is intended to do this. The problem is that Hillary isn't in the White House and Demcorats are not in power. They were supposed to come out with talking points about how they tried the free market but it just failed, so we need to take over the entire industry and let the government run it.

To be clear, remember the VA official from Phoenix who let all those vets die on a waiting list? Yeah, a federal judge ruled that her firing was unconstitutional. So she may have her job back.

This is how government will run health care for everyone, not just our poor vets.

a reply to: GodEmperor
a reply to: Mordekaiser


Well we essentially have close to a single player system given the legal monopolies Congress allows for insurance companies by stopping them from operating across state lines.

The Republicans need to either do what they were elected on, which is 100% Total Absolute Repeal of ObamaCare...

OR, re-direct another $500 billion annually to the ObamaCare (ACA) law in ways that fix its shortcomings.

a reply to: ketsuko

Unconstitutional.. Good God that judge needs to be impeached.

As for what the Democrats (or some) were planning if that point can be proven and explained to the American people the current Democratic party is done.

a reply to: Xcathdra

You cannot 'mimic' single payer.

Obamacare is expensive because we're using a lesser optimal system in our current one.

We either need to switch, and then keeping it is actually feasible, or fully reverse tail as it's crippling the current system.

I commented this in another thread, 25% of Canada's system is run on donations alone. This is sadly much higher than how American's donate money and that needs to shift, as the tax write offs are the same and these millionaires just don't know what they're doing collectively.

a reply to: carewemust

This I disagree with even as a pro-stance. Hillary wasn't addressing the main issues either, and it would have lead to more crippling.

It's money to burn at this point unless we all agree to contribute, and it was passed in the idea that it might be that way one day. If it's known it will not be, it needs to be burned as the Private sector, even as corrupt, will bounce back instantly.

The democrats will tell us that the reason obamacare is failing is because we aren`t throwing enough tax payer money at it, more tax payer money will fix the problem.

a reply to: Tardacus

The lie is based on a half truth. It's not enough people, not an issue of percentage of income from them.

a reply to: Mordekaiser

As far as Canada goes, I hate comparing systems from 2 different countries using 2 different systems while having a massive population imbalance.

I could see a single payer system working here provided the government has absolutely nothing to do with it aside from oversight. The government, imo, should not be in "business".. Leave it to the private sector.

a reply to: Xcathdra


Oh wow I feel so bad for them. That must be why my rates went up x3 with them. Although I must confess some points of their service were very customer friendly.

a reply to: Xcathdra

I'm just commenting, how ironic, single payer eliminates tax problems too. This would be a main reason to just DO IT and not mimic it.

originally posted by: Tardacus
The democrats will tell us that the reason obamacare is failing is because we aren`t throwing enough tax payer money at it, more tax payer money will fix the problem.

Gruber, one of the people responsible for getting Obamacare passed (and who called the American public,essentially, idiots / stupid) blamed Obamacare failure on Trump. He claims the insurance companies were making money until Trump was elected.

When Obamacare fails I fully expect Republicans to be blamed for it.

BCBS has already withdrawn from many States. UHC is doing the same. Both are expected to do and exit , following Aetna's lead soon. The big 3 are out.
There were never enough folks signing up to make up for the government not paying their "subsidies" to them. It has all been a sham. Set up by the 3 hucksters (reminds one of the 3 Stooges) Obama, Pelosi , and Reid
The only real funding was the 3 Hucksters were draining Fannie Mae and Freddie Mac to prop up the POS legislation . It was losing money from Day 1
I know all have heard of the millions signing up for the Obama plan . It just isnt true (in a way) . If you sign in to the healthcare.gov website just to shop (which you have to to get an idea of the prices) you are considered TO HAVE INSURANCE through ACA . Then to get insured outside of the ACA is an ordeal. Insurance companies will look it up online and tell you they cant cover you as you already have insurance through ACA
So the numbers you hear are fake . So is the governments subsidy payments to the insurers.
How do I know ? The above almost cost me my life....(a story for another day)

originally posted by: Tardacus
The democrats will tell us that the reason obamacare is failing is because we aren`t throwing enough tax payer money at it, more tax payer money will fix the problem.

Yea oh yea and the Repugs will tell you middle class Joe and Jane are getting off to easy need to raise them rates cover all those beach homes for upper management.