One of the largest Healthcare providers leaves Obamacare Exchange

by
August 3, 2017

AetnaHealth insurer Aetna announced Thursday that it would completely withdraw from the Obamacare exchanges in 2018, after seeing its profits soar from reducing its participation this year.

The company said during an earnings call that it was withdrawing from the exchange in Nevada, the last state it had considered staying in. Aetna was leaving the possibility open  because it was applying for a Medicaid managed care contract, and the state gives extra consideration to insurers that participate in both programs.

During its second-quarter earnings call on Thursday, however, Aetna said it was not moving forward with the recently awarded contract and would be leaving the exchange as well.

“Our 2018 participation was required based on a Medicaid contract with the state,” spokesman T.J. Crawford said in an email. “As a result of terminating that contract for unrelated reasons, we will not have a presence on the individual exchange in Nevada.”

  • bobnstuff

    If they don’t want to be part of the exchange it up to them but in that case the government should not let them have ANY government contracts. No medicare part D, no Medicare HMO, no CHIP, no Medicaid anywhere. I have had them as an insurance carrier and it would be no great loss to anyone. This isn’t about profits, it was about the DOJ blocking a merger.
    “A federal judge wrote in an opinion that Aetna appeared to make the move as retaliation against the Obama administration’s attempt to block its proposed multibillion-dollar merger with Humana, while the company has maintained that its decision was based on massive losses.”
    http://www.nbcnews.com/business/consumer/aetna-threatened-quit-obamacare-if-u-s-blocked-humana-merger-n633456
    They only made $2,271,000,000 last year and that’s after they claimed to loss on the exchange.
    http://www.msn.com/en-us/money/stockdetails/financials/fi-126.1.AET.NYS?ocid=U147DHP

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  • Bob

    This “great” program, according to the Democrat Party, is more and more showing its true self. It’s unbelievable that any Democrats with any common sense at all would support any part of it. It was designed to fail so that when it did the Democrats could say that the only choice was for the government to take over everything.

    • goldie

      “any Democrats with any common sense at all” is an oxymoron.

    • Dee

      Yep ! When you sell something to the American people as a LIE there are reasons for that . This entire Mess the dems created was planned to do Exactly what it has done , Fall Apart , so they could push their single payer CRAP !

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