Obamacare is an epic failure it's a tax that burden the middle-class working family. Just like that Former President Barrack Obama's legacy has crashed. Aetna, one of the largest health care insurer in the U.S. which has significantly reduced their Affordable Care Act business this year, is signaling that they will be pulling out of the market in 2018.
On a conference call last Tuesday, Mark Bertolini, Aetna’s chairman and chief executive, said “We have no intention of being in the market for 2018, because of the unclear nature of where regulation’s headed.”
“If you look at the notion of policy development, legislative language and then regulation,” he said on CNBC, “the nearest time we could have a completely new program is January 1, 2019.
Aetna is still giving coverage to 240,000 Obamacare customers in four states Virginia, Nebraska, Iowa and Delaware, back in 2016 they were serving 965,000 members in 15 states. According to the company they have lost $450 million pre-tax on the exchanges last year, when it recorded $2.27 billion in profit on $63 billion in revenue.