On Monday Aetna announced that it will significantly reduce the scope of its participation in the Affordable Care Act’s health insurance exchanges, pulling out of 11 of its 15 states. The company will only continue offering exchange plans in Delaware, Iowa, Nebraska, and Virginia. In the related press release, Aetna Chairman and CEO Mark T. Bertolini pointed to the sizable losses the company had incurred through its business on the exchanges: $200 million in pretax losses in the second quarter and $430 million total since January 2014. Aetna covered almost 850,000 people through its exchange plans as of June 30th, and most of those people will have to find new plans in the next open enrollment, and these customers the latest group to find out first hand that “if you like your plan you can keep it” was not actually a guarantee.
Aetna 2017 Exchange Participation
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