As Aetna Pulls Farther Away From Obamacare, Democrats Embrace The Failed Law

As yet another insurance provider pulls farther away from the exchanges, Obamacare continues to spiral out of control.

Today one-third of U.S. counties have only one insurance provider available through Obamacare, and the situation is now set to get worse in 2018.

Obamacare is failing and it shows no signs of stopping. When will the Democrats stop denying Americans the choice and quality they deserve in their healthcare?

Via Wall Street Journal:

Aetna Inc. AET +0.63% will again scale back its presence in the Affordable Care Act exchanges in 2018, saying it expects losses on the business this year despite sharply reduced enrollment in its individual plans.

Aetna has said it would pull out of Iowa’s ACA marketplace in 2018, and its remaining states are Delaware, Nebraska and Virginia. According to the Kaiser Family Foundation, Aetna isn’t the sole exchange insurer in any of its regions.

Aetna’s comments represent the latest alarm bell from an insurer about continued struggles with the exchanges as the industry is in the process of filing 2018 plans with state regulators. Like Humana, which said in February that it would withdraw completely from the ACA marketplaces, Aetna pointed to the underlying economics of the business. Wellmark Blue Cross and Blue Shield, which said last month it won’t offer ACA plans next year in Iowa, also flagged losses in announcing its withdrawal.

Insurers are facing questions surrounding the future of the ACA itself, which House Republicans are trying to overhaul with a bill that hasn’t won enough votes to move forward.

In all for the first quarter, Aetna reported a loss of $381 million or $1.11 a share, compared with a profit of $737 million or $2.08 a share, a year earlier. Revenue fell 3.4% to $15.17 billion.