Aetna Inc (NYSE:AET) has announced that it won’t be taking part in any Obamacare exchanges in 2018.
Aetna Inc will no longer offer insurance plans through Obamacare in Delaware and Nebraska. These were the last two states that the company was planning still offer insurance through Obamacare in. It announced earlier this year that it was planning to pull out of exchanges in other states.
The reason that Aetna Inc is leaving Obamacare exchanges completely are its losses. The healthcare company says that it expects to lose $200 million in the four states that it still offers insurance plans through Obamacare in this year.
Aetna Inc’s decision to exit Obamacare will leave Delaware and Nebraska with only a single insurer through the exchanges. Highmark, a Blue Cross Blue Shield company, will be the only Obamacare insurer in Delaware next year. Medica will be the sole Obamacare insurer in Nebraska when 2018 comes around, reports Bloomberg.
The losses Aetna Inc is facing in 2017 are actually lower than they have been in previous years. The company says that it lost $700 million through its individual commercial products from 2014 to 2016. The lower losses it is expecting in 2017 are due to lower membership this year.
It is also possible that Aetna Inc is leaving the Obamacare exchanges over its failed merger with Humana Inc (NYSE:HUM). The merger was blocked by a federal judge and he believes that AET is leaving the exchanges in retaliation to the action, Washington Examiner notes.
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