August 17, 2016

And the great Obamacare “sucking sound” continues: Health insurance giant Aetna, which already halted its 2017 Obamacare expansion plans, just announced that it is pulling out of insurance exchanges in 11 of the 15 states where it currently offers policies. Aetna has lost $430 million since the Obamacare exchanges opened. After the law did away with pre-existing condition limits, their customers turned out to be sicker and costlier than expected (wait, who didn’t expect that?) Aetna CEO Mark Bertolini said, "Providing affordable, high-quality health care options to consumers is not possible without a balanced risk pool," eerily channeling what many of us have been warning about since even before the Obamacare boondoggle was finagled through Congress. UnitedHealthCare and Humana already announced their exits, and other major insurers are cutting back, adding reduced consumer choice to the skyrocketing costs, loss of your family doctor or preferred policy, ruinous deductibles and co-pays, and other broken promises of Obamacare.

Reminder: Hillary Clinton thinks the only thing wrong with Obamacare is that it’s just not big enough, and if elected, she’s promised to expand it. If she’s elected, let’s hope whatever few insurers remain in the Obamacare exchanges will cover nausea and depression.

For more on this story read this CNN piece here.

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