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Aetna Dropping out of Conn. Health Exchange.....

MMC

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Well it begins with a major Insurance carrier informing certain states they are pulling out. They also pulled out of more than just Conn. too. Individual coverages out of other states. Think this is another blow to Obamacare? Thoughts upon the matter?


Aetna informs Conn. Insurance Department it is withdrawing from health insurance exchange.....

The Hartford-based Aetna Life Insurance Co. has informed state insurance officials that it has withdrawn from Connecticut's health insurance exchange, which is poised to begin open enrollment this fall.

In a letter to the state's Insurance Department, released Monday, the insurer said it "reluctantly" decided to withdraw from the insurance marketplace for 2014.

"Please be assured this is not a step taken lightly, and was made as part of national review of our Exchange strategy," wrote Aetna's senior actuary, Bruce Campbell. Correspondence posted on the Insurance Department's website shows Aetna and the agency disagreed over how Aetna had calculated its proposed rates for the insurance marketplace.

Aetna has also withdrawn from offering individual plans in Maryland and Georgia, said Susan Millerick, an Aetna spokesman.

"We have spent considerable time identifying those states in which we can be competitive and add the most value to the market," said Millerick, adding how the insurer is continuing to analyze Aetna's overall company strategy, including the impact of Aetna's recent acquisition of Coventry Health Care Inc.

Kevin Counihan, the chief executive of the health exchange, known as Access Health CT, said despite Aetna's departure, residents still will have a broad number of health care choices. With Aetna's departure, three insurers will now offer individual coverage through Access Health CT or AHCT. They include Anthem, ConnectiCare and the nonprofit HealthyCT.

News of Aetna's withdrawal comes as the Insurance Department is expected to act on the proposed rates following a lengthy review. Counihan credited that process with reducing rates submitted by several of the participating carriers.....snip~

http://news.yahoo.com/aetna-dropping-conn-health-exchange-180312032.html
 

fmw

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Well it begins with a major Insurance carrier informing certain states they are pulling out. They also pulled out of more than just Conn. too. Individual coverages out of other states. Think this is another blow to Obamacare? Thoughts upon the matter?


Aetna informs Conn. Insurance Department it is withdrawing from health insurance exchange.....

The Hartford-based Aetna Life Insurance Co. has informed state insurance officials that it has withdrawn from Connecticut's health insurance exchange, which is poised to begin open enrollment this fall.

In a letter to the state's Insurance Department, released Monday, the insurer said it "reluctantly" decided to withdraw from the insurance marketplace for 2014.

"Please be assured this is not a step taken lightly, and was made as part of national review of our Exchange strategy," wrote Aetna's senior actuary, Bruce Campbell. Correspondence posted on the Insurance Department's website shows Aetna and the agency disagreed over how Aetna had calculated its proposed rates for the insurance marketplace.

Aetna has also withdrawn from offering individual plans in Maryland and Georgia, said Susan Millerick, an Aetna spokesman.

"We have spent considerable time identifying those states in which we can be competitive and add the most value to the market," said Millerick, adding how the insurer is continuing to analyze Aetna's overall company strategy, including the impact of Aetna's recent acquisition of Coventry Health Care Inc.

Kevin Counihan, the chief executive of the health exchange, known as Access Health CT, said despite Aetna's departure, residents still will have a broad number of health care choices. With Aetna's departure, three insurers will now offer individual coverage through Access Health CT or AHCT. They include Anthem, ConnectiCare and the nonprofit HealthyCT.

News of Aetna's withdrawal comes as the Insurance Department is expected to act on the proposed rates following a lengthy review. Counihan credited that process with reducing rates submitted by several of the participating carriers.....snip~

Aetna dropping out of Conn. health exchange
Every time government gets involved in business, the unintended consequences outweigh the intended ones. It's always been that way. We never learn.
 

TiredOfLife

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Every time government gets involved in business, the unintended consequences outweigh the intended ones. It's always been that way. We never learn.
Unintended? Let's say that all private insurers drop out, ask yourself then what do we do? The answer to that is where we already should have been, Universal Single-Payer, it's good for business, among other things.
 

MaggieD

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Well it begins with a major Insurance carrier informing certain states they are pulling out. They also pulled out of more than just Conn. too. Individual coverages out of other states. Think this is another blow to Obamacare? Thoughts upon the matter?


Aetna informs Conn. Insurance Department it is withdrawing from health insurance exchange.....

The Hartford-based Aetna Life Insurance Co. has informed state insurance officials that it has withdrawn from Connecticut's health insurance exchange, which is poised to begin open enrollment this fall.

In a letter to the state's Insurance Department, released Monday, the insurer said it "reluctantly" decided to withdraw from the insurance marketplace for 2014.

"Please be assured this is not a step taken lightly, and was made as part of national review of our Exchange strategy," wrote Aetna's senior actuary, Bruce Campbell. Correspondence posted on the Insurance Department's website shows Aetna and the agency disagreed over how Aetna had calculated its proposed rates for the insurance marketplace.

Aetna has also withdrawn from offering individual plans in Maryland and Georgia, said Susan Millerick, an Aetna spokesman.

"We have spent considerable time identifying those states in which we can be competitive and add the most value to the market," said Millerick, adding how the insurer is continuing to analyze Aetna's overall company strategy, including the impact of Aetna's recent acquisition of Coventry Health Care Inc.

Kevin Counihan, the chief executive of the health exchange, known as Access Health CT, said despite Aetna's departure, residents still will have a broad number of health care choices. With Aetna's departure, three insurers will now offer individual coverage through Access Health CT or AHCT. They include Anthem, ConnectiCare and the nonprofit HealthyCT.

News of Aetna's withdrawal comes as the Insurance Department is expected to act on the proposed rates following a lengthy review. Counihan credited that process with reducing rates submitted by several of the participating carriers.....snip~

Aetna dropping out of Conn. health exchange
Well, I don't know what to make of this, actually. May mean nothing. May mean something. Insurance companies have never liked individual insurance. The bulk of their profitable business comes from group insurance. If people are working, there is a presumption they're healthier than those who aren't. And many buying individual health insurance aren't working (which is why they don't have group coverage).

It bothers me immensely that hard data on rates won't be available until October 1st. This makes it very difficult for people to plan. I know several independent business people who are on the edges of their chairs as they wait for the rates to come out.

It is encouraging, however, that Illinois' ICHIP program (subsidized insurance for those with pre-existing conditions) has sent out a mailing saying that, effective January 1st, the ICHIP program will be disbanded and insureds will have to find other insurance. And that that "other insurance" may even be less expensive.

Illinois' ICHIP program is run by Blue Cross/Blue Shield. One would think they have their finger on the proverbial pulse of eventual rates.
 

MMC

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Well, I don't know what to make of this, actually. May mean nothing. May mean something. Insurance companies have never liked individual insurance. The bulk of their profitable business comes from group insurance. If people are working, there is a presumption they're healthier than those who aren't. And many buying individual health insurance aren't working (which is why they don't have group coverage).

It bothers me immensely that hard data on rates won't be available until October 1st. This makes it very difficult for people to plan. I know several independent business people who are on the edges of their chairs as they wait for the rates to come out.

It is encouraging, however, that Illinois' ICHIP program (subsidized insurance for those with pre-existing conditions) has sent out a mailing saying that, effective January 1st, the ICHIP program will be disbanded and insureds will have to find other insurance. And that that "other insurance" may even be less expensive.

Illinois' ICHIP program is run by Blue Cross/Blue Shield. One would think they have their finger on the proverbial pulse of eventual rates.
Yep.....I was thinking the same thing over the Data. Although some are getting flyers or mailings out. Still Big carrier not offering Single payer in Southern states where things are Cheaper. Could make it difficult for people to get the kind of coverage they are looking for. Some of the Others may or may not covers certain services.

One would have thought that Aetna would want to be in that game. Especially if there will be more Single coverage going forward.
 

reinoe

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Aetna announced they were leaving California too. I don't blame them.
 

year2late

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I dumped Aetna years back.

Buhbye.
 
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