“A top insurer is dropping from Washington, D.C.’s Obamacare exchange in 2016, leaving customers with fewer options than ever in the nation’s capital.
Washington’s own Obamacare exchange, in 2016, The Washington Post reports. Aetna is sending letters to customers notifying them that their plans will be canceled at the end of this year. The company says it has “determined we can no longer meet the needs of our customers while remaining competitive in the market.”
That will leave just one company on the exchange, CareFirst, that provides Preferred Provider Organization plans, or PPOs, which offer a wider choice of approved doctors and hospitals to customers. Just two other companies currently offer health maintenance organizations, HMOs, on the exchange.” - Washington’s Obamacare Exchange Is Losing A Top Insurer In 2016, daily caller.com, 07/12/2015
Link to the entire article appears below:
http://dailycaller.com/2015/07/12/washingtons-obamacare-exchange-is-losing-a-top-insurer-in-2016/
‘Aetna CEO Mark Bertolini told CNBC on Wednesday that Obamacare has failed to attract the uninsured, and he offered a scenario in which the insurance company could be forced to pull out of program.
The company will be submitting Obamacare rates for 2015 on May 15.
"Are they going to be double-digit [increases] or are we going to get beat up because they're double-digit or are we just going to have to pull out of the program?" Bertolini asked in a "Squawk Box" interview from the World Economic Forum in Davos, Switzerland. "Those questions can't be answered until we see the population we have today. And we really don't have a good view on that."
He said that so far, Obamacare has just shifted people who were insured in the individual market to the public exchanges where they could get a better deal on a subsidy for coverage. "We see only 11 percent of the population is actually people that were firmly uninsured that are now insured. So [it] didn't really eat into the uninsured population." ‘ - Aetna could be forced out of Obamacare: CEO, CNBC, 01/22/2014
Link to the entire article appears below:
http://www.cnbc.com/id/101354183
"A second health insurer notified state regulators Tuesday that it will stop selling individual policies in California.
UnitedHealthcare announced it will no longer offer individual insurance plans after the end of the year. It will focus instead on its core business of group plans for large and small employers.
"Our individual business in California has always been relatively small and we currently serve less than 8,000 individual customers across the state," the company said in a statement. "Over the years, it has become more difficult to administer these plans in a cost-effective way for our members in California."
The announcement comes two weeks after Aetna Inc. said it also plans to exit California's individual insurance market. Both insurers avoided participating in the state exchange that is being established as part of the Affordable Care Act." - UnitedHealthcare to stop selling individual plans in Calif, AP/Foxnews.com, 07/02/2013
Link to the entire article appears below:
http://www.foxnews.com/us/2013/07/02/unitedhealthcare-to-stop-selling-individual-plans-in-calif/
