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Aetna Will Leave Kentucky Insurance Exchange

Aetna Will Leave Kentucky Insurance Exchange

Aetna will still offer individual plans outside the marketplace.

Citing a second quarter pretax loss of $200 million, Aetna Chairman and CEO Mark Bertolini said in a statement that it will continue to participate only in Delaware, Iowa, Nebraska and Virginia marketplace next year. The move leaves Blue Cross and Blue Shield of North Carolina alone in selling marketplace policies to residents of all 100 of the state's counties.

The Congressional Budget Office projected a year ago that 21 million people would participate in the exchanges. We now plan, as part of our strategy following the acquisition, to expand from 15 states in 2016 to 20 states in 2017.

"Before Obamacare was passed, we had great variation of health insurance markets across the country, some of which had many insurance companies offering products and others that were much more consolidated", says Dr. Hattis, a former consumer advocate on the Massachusetts Health Policy Commission. One of the state's largest health insurers, Florida Blue, reportedly posted a $471 million gross profit on ACA-compliant individual plans in 2015, up from $124 million in 2014.

Aetna was the only insurer planning to offer Affordable Care Act plans in Pinal County for 2017.

In April, UnitedHealth Group, the nation's biggest health insurer, announced it will cut its participation in public health insurance exchanges to a few states next year after expanding to almost three dozen for this year.

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The health insurance giant now offers Affordable Care Act exchange plans in 15 states. Open enrollment for 2017 begins November 1 in the shadow of the election. "Premiums are rising as a result of diminished competition and unbalanced risk pools that have led to a higher than expected utilization of health care". The announcement late Monday came several weeks after UnitedHealth and Humana also said they would cut their coverage plans for 2017 and after more than a dozen nonprofit insurance co-ops have shut down in the past couple of years.

The company said more healthy people were needed to purchase insurance through the exchanges to offset the cost of covering less healthy people. "We will continue to try and find a way to make health insurance available to as many Arizonans as possible", the insurer said Tuesday.

In South Carolina, "we continue to look for companies to recruit", said Ray Farmer, director of the state's insurance department.

"I just gave a 43% rate increase to Humana to keep them here", said Mike Chaney, Mississippi's insurance commissioner, adding that the insurer hadn't threatened to pull out if it didn't get the boost. But so far, only about 11 million have enrolled in health plans through the marketplaces, despite the threat of federal tax penalties for not having health coverage.

An estimated 10 million people have signed up for Obamacare to date, less than half the amount originally expected.

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