Aetna may be done with Obamacare for good.
The healthcare insurance provider, which conducts business with public exchanges through the Affordable Care Act, has backed away from plans to expand its public exchange coverage to five new states, and is reconsidering its decision to continue doing business through public exchanges in its existing 15 states.
In a second-quarter earnings press release, Aetna’s Chairman and CEO, Mark Bertolini, spliced good news for the company with indications that they could no longer afford the Affordable Care Act:
“While we are pleased with our overall results, in light of updated 2016 projections for our individual products and the significant structural challenges facing the public exchanges, we intend to withdraw all of our 2017 public exchange expansion plans, and are undertaking a complete evaluation of future participation in our current 15-state footprint.”
More insurers souring on Obamacare
Obamacare is forcing more and more insurers out of the public healthcare business. Blue Cross/Blue Shield, United Health, and now possibly Aetna have had enough of what has increasingly become an unprofitable venture.
Greg Moore, State Director for the New Hampshire chapter of Americans for Prosperity (AFP), sees the rats fleeing the sinking Affordable Care Act ship as a predictable outcome of the way the law was constructed.
“ObamaCare was always too complicated to succeed. There are too many moving parts in our healthcare system to have a command and control structure that could actually lower cost and improve quality. Insurers fleeing the ObamaCare market is a symptom of a system that was set up to fail.”
Americans for Prosperity’s party-blind fight against pro-Obamacare politicians
A state-based grassroots activism organization with chapters around the country, Americans for Prosperity has established a formidable presence in the fight for economic liberty, with combating the destructive efforts of Obamacare as a central issue. And although this issue focus naturally tends to ally the organization with more right-wing elements, they by no means play favorites. In New Hampshire, Democratic representative Amanda Bouldin scored a B in the state chapter’s legislative scorecard, while Joe LaChance, a Republican who has made overtures to the libertarian wing of the party, received an F.
AFP-NH’s willingness to throw its growing grassroots influence against Republicans and Democrats equally has not been taken well by all. A signing event for AFP’s pledge to oppose tax and spending increases, as well as Obamacare, was banished from the Legislative Office Building by Republican House Speaker Shawn Jasper. In a hissy fit over AFP’s targeting of legislators for supporting some of the same measures he himself has gotten behind, Jasper forced the pledge signing to take place elsewhere.