Major Health Insurance Providers Continue to Flee ACA Exchanges
(Washington, DC) – Earlier this week Aetna Inc. a health insurance provider, announced that it will withdraw from 11 of the 15 state exchanges where it currently sells health plans in the marketplaces established under the president’s healthcare law. This comes shortly after Humana and UnitedHealth Group Inc. also announced pullbacks of their participation in the exchanges. Aetna is the fifth major national insurance company to project a loss on ACA plans for 2016. The company announced that its ACA plans had lost approximately $200 million in the second quarter of 2016 alone, and they expect that number to grow to $300 million by the end of 2016.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“It’s no surprise that consumers are refusing to purchase policies under the health care law, and as a result, insurance companies are losing money. Sadly, many in Washington seem to think that the solution to this problem is to take more money from hard-working taxpayers to bail out politically-connected insurance companies Some are even calling for fully government-run care, which, we know by the example of Vermont leads to higher taxes, perverse incentives, and dramatic losses in the health care industry. They could not be more wrong. Instead of taking choice away from consumers, it is time to find ways to put us back in charge of our own health care. Instead of mandating that people buy policies approved by the government or face steep fines, we should empower people to choose the best care for themselves and their families.”
For Interviews with a representative from The LIBRE Initiative, please contact Brian Faughnan, 703-678-4581