Shocker: Aetna pullout was not about losses...

[Arianrhod]

...but because their attempt to create an insurance monopoly in some markets was thwarted:

Aetna warned it would cut Obamacare if Humana deal was blocked

Aetna Inc (AET.N) warned in July that it would exit much of the individual Obamacare health insurance market if the government challenged its deal to buy rival Humana Inc (HUM.N), according to a letter it sent to the U.S. Department of Justice.

The public release of the letter came after Aetna said on Monday that it would pull out of selling individual insurance on the government-run websites in 11 states, citing financial losses on the business.

The company's withdrawal followed similar moves by UnitedHealth Group Inc (UNH.N) and Humana, representing a blow to the marketplace for the government-subsidized insurance plans created under President Barack Obama's signature healthcare reform law.

In the July 5 letter, Aetna Chief Executive Officer Mark Bertolini said it would have to cut back because it would be some time before the company recouped the investment it had made in this market over the past 2-1/2 years.

"Our ability to withstand these losses is dependent on our achieving anticipated synergies in the Humana acquisition," Bertolini wrote. A copy of the letter was posted on the Huffington Post website, which obtained the document though the Freedom of Information Act.

 

[Sun Devil 92]

I am not going to read the OP.....

The title is stupid enough.....

What ???

Aetna walked away from profits ?

Can somebody explain to the moron troll that posting this stuff removes all doubt she is an idiot.

 

[Arianrhod]

I am not going to read the OP.....

The title is stupid enough.....

What ???

Aetna walked away from profits ?

Can somebody explain to the moron troll that posting this stuff removes all doubt she is an idiot.

Another "I'm ignoring this poster but I can't resist posting in this thread."

Thanks for the bump, chump.

Please don't read the article. It might provide you with information that would explain the motives behind insurance company maneuvers so you won't be so gullible next time. We like you gullible.

 

[Sun Devil 92]

I have to resist the temptation to look at what our moron OP has posted....want to see if there are a boatload of original sources that she hides behind (but since they don't exist, she's always as plain as day....I actually wish she could disappear).

Here is an article that just popped up on RealClear.....

Reminder: Obamacare Is Still A Disaster | RealClearPolitics

The correspondence has gotten Democrats very agitated, even though their policies are creating the problem. Even before the letter was uncovered, Sen. Elizabeth Warren and others lamented the rise of corporate power rather than the convoluted regulatory environment that fosters an unhealthy relationship between business interests and government power. Warren said, "The health of the American people should not be used as bargaining chips to force the government to bend to one giant company's will."

To be honest, although I have little doubt Aetna was hoping its position on the exchanges would help with the merger, the letter sounds less like extortion and more like a sensible decision that any accountable executives would make when their company is facing losses. The real outrage isn't that insurers like Aetna are abandoning Obamacare, but that companies like Aetna likely participated in Obamacare for cronyistic reasons to begin with.

The ACA has inhibited competition, which has only benefited big companies. Still, insurers are losing billions in the exchanges, and at some point it's too expensive to be in bed with Obama. Why would UnitedHealth, the nation's largest insurer, participate in a program that expects almost $1 billion in losses between this year and last? Aetna lost more than $430 million since January 2014, and it was expected to lose $300 million this year. Merger or no merger, Aetna would almost certainly stay in the exchanges if it made fiscal sense.

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Good old stupid Lizzy Warren. Still clinging to the idea that the government can actually do something good.

 

[Arianrhod]

^You're essentially agreeing with the premise of the OP you claim you haven't read. Excellent!