Aetna Posts First-Quarter Loss, Mulls Scaling Back Health Law Participation Even Further
Aetna said it expects 2017 losses on its individual business will amount to roughly half its loss last year, which was $450 million.
Modern Healthcare:
Aetna Records First-Quarter Loss After Failed Humana Merger
Aetna recorded a loss of $381 million in the first three months of 2017, thanks to costs related to its failed tie-up with insurer Humana. Even so, Aetna's first-quarter results beat Wall Street's financial estimates despite further losses from the insurer's Affordable Care Act exchange plans. In the first quarter of last year, Hartford, Conn.-based Aetna's profit totaled $737 million. (Livingston, 5/2)
The Wall Street Journal:
Aetna To Pull Back Further From Health Exchanges
Aetna Inc. 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. (Wilde Mathews and Moise, 5/2)
Reuters:
Insurer Aetna Posts Loss, Evaluates Obamacare Exposure
Like other U.S.-based health insurers including Anthem Inc and Molina Healthcare Corp, Aetna faces deadlines to file 2018 plans but is uncertain about components of premium rates such as the continuation of government subsidies and the mandate for Americans to have insurance. (5/2)
The Hill:
Aetna Hints At Further ObamaCare Exits
Aetna has roughly 255,000 members in the ObamaCare market nationwide, a significant reduction from the 964,000 members it had last year. The company lost $450 million in the market in 2016 and said that losses are projected to be higher than expected this year. (Clason, 5/2)
