Shot: "ACA may not be ‘terrific,’ but it’s making a difference."
Chaser: "Aetna's exit deals blow to Obamacare, patients."
Hangover: "21% of New York manufacturing companies hiring fewer workers because of Obamacare."
That means it's working!
3 comments:
Chaser: "Aetna's exit deals blow to Obamacare, patients."
When reporters on Monday asked whether Aetna was also reacting to the administration’s attempt to thwart its merger with Humana, company officials brushed off the questions, according to accounts in the Hartford Courant, Politico, and USA Today.
But just last month, in a letter to the Department of Justice, Aetna CEO Mark Bertolini said the two issues were closely linked. In fact, he made a clear threat: If President Barack Obama’s administration refused to allow the merger to proceed, he wrote, Aetna would be in worse financial position and would have to withdraw from most of its Obamacare markets, and quite likely all of them.
Bertolini penned the letter, which The Huffington Post obtained through a Freedom of Information Act request, on July 5 ― 16 days before the Justice Department announced it would fight the Humana deal. The department had asked Aetna how, if at all, a decision on the proposed merger would affect Aetna’s willingness to offer insurance through the exchanges.
Bertolini responded bluntly. Aetna supported the law’s goal to expand coverage and planned to increase its exchange offerings next year, in the hopes that the exchanges would stabilize as enrollment grew, he wrote.
But if the Justice Department were to block the merger, Bertolini warned, Aetna could no longer sustain the losses from its exchange business, forcing it sharply change direction.
Aetna was so committed to this charade that they were exiting to show their disappointment in the scotched Humana deal, they lost $300 million in the process.
http://www.zerohedge.com/news/2016-08-02/aetna-posts-300-million-obamacare-loss-warns-may-exit-altogether
Aetna supported the law’s goal to expand coverage and planned to increase its exchange offerings next year, in the hopes that the exchanges would stabilize as enrollment grew, he wrote. But if the Justice Department were to block the merger, Bertolini warned, Aetna could no longer sustain the losses from its exchange business, forcing it to sharply change direction.
"Nice little Obamacare you got here... it'd be a real shame if something were to happen to it."
http://www.latimes.com/business/hiltzik/la-fi-hiltzik-aetna-obamacare-20160817-snap-story.html
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