ICYMI: Aetna CEO says Obamacare markets are in ‘death spiral’

According to a Politico report, Aetna’s CEO argued that, “more insurers will pull out of the government-run marketplaces in the coming weeks and many areas will have no insurers to provide Affordable Care Act coverage in 2018.” He went on to say, “It’s not going to get any better; it’s getting worse.”

In response, physician and Eighth District Congressman Larry Bucshon, who has repeatedly cautioned that Obamacare is failing, said:

“We continue to see signs that Obamacare is failing almost daily,” said Bucshon. “The insurance market is unstable and on the brink of collapse driving up out-of-pocket costs on families and limiting access to Americans looking to get coverage. As I’ve said before, it would be irresponsible and unethical to ignore these facts and do nothing to bring relief to patients suffering as a result of this bad law. Republicans in Congress are working judiciously with the new Administration to repeal the Obamacare disaster and replace it with reforms that lower costs and expand access to quality, affordable healthcare to everyone.”

 

Bucshon recently introduced legislation to help stabilize the insurance markets by giving states the flexibility to meet the needs of their unique patient populations.  More on his legislation can be found by clicking here.

 

 

Aetna CEO: Obamacare markets are in ‘death spiral’
February 15, 2017

Obamacare is in a “death spiral,” the influential CEO of Aetna, Mark Bertolini, declared Wednesday morning.

Bertolini’s doomsday prophesy: More insurers will pull out of the government-run marketplaces in the coming weeks and many areas will have no insurers to provide Affordable Care Act coverage in 2018.

“It’s not going to get any better; it’s getting worse,” Bertolini said in an interview at a Wall Street Journal event. But he declined to say whether Aetna would completely pull out of Obamacare markets next year.

Humana, which had already significantly limited its exchange footprint this year, announced Tuesday that it would completely pull out of the exchange markets next year after determining its customer base would still be unprofitable. That followed major pullbacks this year from other national insurers, including Aetna and UnitedHealth Group.

The full article can be accessed here.

Congressman Larry Bucshon, M.D. is a physician and Republican member of the House Energy and Commerce Committee serving his third term representing Indiana’s 8th Congressional district. The 8th District of Indiana includes all or parts of Clay, Crawford, Daviess, Dubois, Gibson, Greene, Knox, Martin, Owen, Parke, Perry, Pike, Posey, Spencer, Sullivan, Vanderburgh, Vermillion, Vigo, and Warrick counties.