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Aetna drops last 2 state markets under Affordable Care Act

Aetna drops last 2 state markets under Affordable Care Act”

Aetna also revealed that "it expects to lose more than $200 million in its individual business line this year, on top of almost $700 million in losses between 2014 and 2016".

Regulators a year ago approved average rate increases in the individual market of 32.5 percent for Highmark and about 23 percent for Aetna.

The median coverage price this year for one typical plan was about 67 percent higher in marketplaces with one insurer compared to those that had six or more, according to a study by the non-profit Urban Institute.

And even that one company, Medica Health of Minnetonka, Minnesota, isn't sure it will sell those health plans in 2018.

The cascade of state-by-state decisions represents a stark turnabout for the nation's third-largest insurer, which initially entered 15 states' marketplaces but last summer chose to slash its 2017 participation to just four. But insurers faced big losses in some markets, and they got less financial support from the government than they expected.

In Delaware, Blue Cross and Blue Shield company Highmark would be the lone Obamacare insurer in the state, assuming no other insurers enter. The Trump administration and Republicans in Congress are eager to dismantle the law and supplant it with more conservative health care policies, and Price said in a statement that Aetna's move "adds to the mountain of evidence that Obamacare has failed the American people". He says if you were to allow a significant subsidy, up to $14,000 to help a family buy health insurance, they could use that money to buy health insurance that is available to them at the time. For example, BlueCross BlueShield of Tennessee recently said it would serve those abandoned 16 Tennessee counties, but health policy experts do not expect it to happen very often because it is so expensive to launch coverage into new markets, especially at a time when the federal rules are in flux. Its decision to stop offering plans came after "seeing signs of an unbalanced risk pool based on the results of the 2017 open enrollment period, therefore we've decided that we can't continue to offer this coverage in 2018", Bruce Broussard, chief executive of Humana, told reporters.

Customers are likely still several months away from knowing for certain final 2018 rates and participation. No mention was made of concerns over the future of ObamaCare, which had been cited a week ago when Aetna announced that it was leaving exchanges in Virginia and Iowa.



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