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And another one bites the dust.

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Author Topic: And another one bites the dust.  (Read 402 times)
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Tony Light
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« on: August 16, 2016, 08:44:12 am »

http://cnsnews.com/news/article/insurer-aetna-slashes-aca-exchange-participation-4-states
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Plato Potato
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« Reply #1 on: August 16, 2016, 11:39:50 am »

Are you protesting the power of the free market?
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« Reply #2 on: August 18, 2016, 01:42:31 pm »

It turns out that there's more to the story than Conservative News Service wants you to know. The Aetna retreat, from 11 of the 15 states it now covers, is probably a childish payback to the Obama administration for the Justice Department's opposition to Aetna's anti-competitive $37 billion attempt to swallow up rival Humana.

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The report added that for ACA supporters, this suggests the insurer “was using its participation in Obama’s signature domestic policy initiative as a bargaining chip in order to secure approval of a controversial business deal.”
 
Remember, it was just four months ago that Aetna CEO Mark Bertolini sounded quite positive about the company’s participation in exchange marketplaces, describing them as a “good investment” in a call with investors. A month later, he again said Aetna planned to participate in ACA exchanges. Politico noted the only real difference between now and then: “The Department of Justice’s effort to stop Aetna’s proposed $37 billion merger with Humana. The two sides go to court in December."
http://www.politico.com/story/2016/08/aetna-obamacare-backers-227086
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Michael Welch
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« Reply #3 on: August 18, 2016, 01:54:18 pm »

Still there's something "wrong" with Obamacare in that it's sooo dependent on the participation of that "free market" mentioned above. What is called for as per "Bernie" eh is a national health care single payer plan hmmmmm!!!!...
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Plato Potato
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« Reply #4 on: August 18, 2016, 03:12:09 pm »

This more obvious connection from the Huffington Post:

Just last month, July 5, 2016, CEO Mark Bertolini sent a threatening letter to the Department of Justice. He explicitly said that if the DOJ interfered with his monopolistic takeover of Humana, his company would back out of the ACA exchanges in 11 states. Huffington Post obtained the letter by way of the Freedom Of Information Act. 16 days after the threatening letter, the DOJ announced it would block the merger, and Aetna's Trump-like vengeance was swift.

http://www.huffingtonpost.com/entry/aetna-obamacare-pullout-humana-merger_us_57b3d747e4b04ff883996a13
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Tony Light
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« Reply #5 on: August 19, 2016, 07:01:09 am »

What about the other insurers Plato that have dropped out? Remember how cheap obamacare was to be?
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Tony Light
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« Reply #6 on: August 19, 2016, 11:01:22 am »

Plato, you gave a good defense of obamacare this morning. BUT, they were talking about it this morning on the liberal lefty Morning Joe show today. Plato tell your audience how much Aetna has lost just this year in those exchanges.
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« Reply #7 on: August 19, 2016, 05:05:08 pm »

Lost money this year? Then how come the CEO told the world 4 months ago that everything was hunky dory? Actually, nothing changed until the DOJ stepped in to keep Aetna from cornering the market, in clear violation of anti-trust laws.

Somebody has told you Obamacare screws insurance companies. In fact, Obamacare is the biggest sweetheart deal insurers have ever seen. Hey, look! We're giving you millions of new customers!
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