Aetna pulls out of last ObamaCare markets

Aetna pulls out of last ObamaCare markets
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Insurer Aetna announced Wednesday that it is exiting its last remaining ObamaCare markets, meaning it will not be participating on the health law’s exchanges at all next year. 

The company had already pulled out of most ObamaCare markets, but announced that it is leaving Delaware and Nebraska. 

The company cited financial losses, a common problem for insurers on the ObamaCare marketplaces. 

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“Our individual Commercial products lost nearly $700 million between 2014 and 2016, and are projected to lose more than $200 million in 2017 despite a significant reduction in membership,” Aetna said in a statement. 

The company added that it has now “completely exited the exchanges.”

Aetna has taken a more negative outlook on the viability of the ObamaCare marketplaces than many other insurers. 

A report from S&P last month found that the financial situation was stabilizing for insurers on the marketplaces, absent drastic changes to the law from Washington. 

Still, many insurers are contemplating premium hikes or dropping out of the marketplaces next year, pointing in part to uncertainty from the Trump administration. 

Insurers are worried the administration will stop enforcing the mandate for people to get insurance, and that it will cancel key ObamaCare payments that President Trump has threatened to withhold as a bargaining chip with Democrats.