Aetna announced on Monday that it will be reducing their participation in the Affordable Care Act, affecting 11 states. The health insurance giant’s move was due to a block by the DOJ of Aetna’s proposed merger with Humana.
The withdrawal of Aetna from markets was a decision due to significant losses that Aetna was facing, as analyzed from figures in their second quarter of this year, which Aetna officials state are due to issues with the Affordable Care Act.
Despite the increase in insured people due to the Affordable Care Act, Aetna’s leave has spurred doubts about the health law, dubbing the act as unsustainable.
In the view of those opposed to Obamacare, Aetna’s withdrawal proves that the Affordable Care Act is not working. Those who approve of the act see Aetna’s withdrawal as leverage in order to get their merger with Humana.
The effect on the markets will most likely be an increase in rates, if there are not enough participants.
Read the original article from The Huffington Post here.
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