Aetna Cuts Back on ACA

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Next year, beginning on 1/1/2017, Aetna is cutting back on the number of states it will offer Affordable Care Act (ACA) plans for families and individuals. It will cut back from from 15 states to 4.

Aetna will sell on-exchange policies in Delaware, Iowa, Nebraska and Virginia. And the ACA plans will be available in 242 counties, down from 778 this year.

“As a strong supporter of public exchanges as a means to meet the needs of the uninsured, we regret having to make this decision,” Aetna CEO Mark Bertolini said in a statement. But, he argued, “providing affordable, high-quality healthcare options to consumers is not possible without a balanced risk pool.” Aetna has lost more than $300 million on the exchanges so far in 2016. Source: Modern Healthcare.

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