Health insurer Aetna backs off ACA expansion plans

Projected premium increases for the two largest providers of health insurance in New Hampshire range from 4.2 percent to almost 10 percent for individual plans, according to preliminary rate information filed by insurance companies with the federal government.

The dynamic is worrisome for some state regulators.

In at least one of those states, Oklahoma, Aetna's decision not to come in, along with the earlier announced pullout of UnitedHealth, means there will be just one exchange insurer statewide next year, a spokeswoman for the state insurance regulator said.

Earlier this year, Bertolini had been more optimistic about Obamacare's future, saying the company would continue working with the government and lawmakers to set it on a more sustainable path. Insurers have been seeing growing medical costs among the ACA-plan enrollees. Anthem-Cigna would control nearly half of the state's market for providing administrative services to self-insured firms, the regulator said, with a big concentration in Brooklyn, the Bronx and Queens.

Obamacare may soon be in critical condition.

Aetna now has about 1.1 million individual ACA plan enrollees, roughly 838,000 of whom purchased their coverage on one of the health law's exchanges. "Aetna and Humana look forward to making this clear in court, where a judge will review the transaction based on its merits", the Aetna press release stated.

As of June 30, 2016, Molina Healthcare served 44,000 Medicare Advantage Special Needs Plan members and 51,000 Medicare-Medicaid Plan members.

How are they different? But it plans to expand into new markets, including Chicago, from its seven states. "They have more experience with these customers and have established provider networks to serve them". As a result, insurance companies had to pay out more in claims than originally anticipated.

NY also said the deal could hurt health-care providers by limiting how much they're paid.

Anthem (ANTM) and Cigna (CI), which are also trying to merge, have also warned on higher costs from Affordable Care Act patients.

The reasons health insurance companies cite for pulling out of the Obamacare deserve a little scrutiny. Competition by insurers is a key feature of the exchanges, created to keep a lid on prices, but several insurers are abandoning them because they are losing enormous amounts of money. Past year the company reported total revenue of more than $78 billion and net profits of $2.6 billion, which was almost identical to its 2014 profits. Additional information regarding the risk factors to which we are subject is provided in greater detail in our periodic reports and filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. UnitedHealth's shares have grown 142 percent.

Even a 50 percent to 70 percent increase in premiums for private insurance clients and a similar increase for people who get their health insurance from an employer has not been able to bridge the gap between the high costs of the best treatment possible for the poorest participants in Obamacare programs.

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