3rd Largest Insurer Drops Out Of State’s Insurance Exchange
DALLAS (AP) — Aetna will abandon Affordable Care Act insurance exchanges next year in Texas and 10 other states amid financial concerns.
The nation's third-largest insurer has not released specifics on how many clients in Texas use the exchange.
Aetna late Monday announced that a second-quarter pre-tax loss of $200 million from its individual insurance coverage helped it decide to limit exposure to the exchanges.
The announcement 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.
Experts say it's too soon to determine how shrinking insurer participation will affect rates beyond next year.
The enrollment period for 2017 coverage starts Nov. 1.