Aetna CEO: Obamacare markets are in a 'death spiral'

[workinclasszero]

Aetna CEO: Obamacare markets are in a 'death spiral'
By Paul Demko 02/15/17 09:54 AM EST

Obamacare is in a “death spiral,” the influential CEO of Aetna, Mark Bertolini, declared Wednesday morning.

Bertolini’s doomsday prophesy: More insurers will pull out of the government-run marketplaces in the coming weeks and many areas will have no insurers to provide Affordable Care Act coverage in 2018.

“It’s not going to get any better; it’s getting worse,” Bertolini said in an interview at a Wall Street Journal event.
But he declined to say whether Aetna would completely pull out of Obamacare markets next year, though he said the population of covered people in the marketplaces has skewed older and sicker than expected.

http://www.politico.com/story/2017/02/obamacare-market-death-spiral-aetna-mark-bertolini-235041

[Eliot Rosewater]

1. The Rubio poison pill worked. They will kill citizens if they have to

before they will allow Obama to have a positive legacy.

[workinclasszero]

4. Funny how the "Pro-Life" republicans

can't wait to kill 40,000 plus Americans a year.

[atreides1]

10. Pro-Fetus

Not Pro-Life!!!!

[workinclasszero]

14. And as soon as that baby is born

The "pro-lifers" will gladly let it starve to death or die from lack of health care.

[Dawson Leery]

2. These fuckers will be the ones to force single payer.

Rationally, we would build the system state by state. Since that is not happening and insurance is once again fucking around, single payer may come in a few years by force.

[workinclasszero]

5. We will have single payer or

only the rich will have any health care.

Of course barring a revolution from the streets I don't see the republican controlled federal government giving that to us anytime soon.

[rgbecker]

22. Get these insurance companies out of my health care decisions ASAP.

Good Riddance Aetna and Humana and the rest. Leave it to Americans to organize a payment system that works for Americans rather than private companies which could be owned by anyone, including terrorists.

[SticksnStones]

3. Translation:

If we can't maintain the same obscene level of profit, then we will do all we can to destroy the healthcare system.

[workinclasszero]

8. Bingo

Insurance is not there to help you with health care costs, its there to take obscene amounts of money from us with little to no payouts.

The republicans will gladly assist the fucking insurance companies in their greed soaked pursuit, have no doubt!

[SticksnStones]

11. The way they complain:

"But there's sooo many sick people"

Hey pal, if sick people are viewed as an obstacle, there's something very wrong with your industry.

[uponit7771]

21. +1

[HughBeaumont]

6. Yay, glad to see our leaders are still clinging to 20th century problem solving.

Health care is a human right. Get with the program or get run the fuck over.

[pat_k]

9. Yep. Insanity of treating as it is. . .

. . . well... insanity.

[pat_k]

7. No choice then-- replacement must be universal health care

To bad right-wingnuts will never do the rational thing.

[Proud Liberal Dem]

12. Funny how that works

Trump/GOP come into complete power threatening to repeal ACA and now ACA is in a "death spiral"?

[Yo_Mama]

20. No, the problems and the angst predated Trump. Look at Minnesota

http://www.usnews.com/news/us/articles/2016-10-12/democratic-governor-health-law-no-longer-affordable

Minnesota wholly embraced the health care under Dayton, creating a state-run online market exchange for shoppers who aren't covered by employers or public programs to buy individual coverage. When those policies first went on sale in 2013, Dayton and state officials proudly touted the lowest health insurance rates in the nation.

But after several years of steadily increasing premiums, top state regulators said this fall that Minnesota's individual market is in "a state of emergency." The state scrambled to stop all seven companies that sell insurance directly to consumers or through the state exchange, MNsure, from fleeing for 2017, but the state's largest insurer is still exiting.

Health care insurance shoppers will see premium increases that range from 50 percent to 67 percent on their plans for next year.

Aetna has sour grapes, that is true. But an increasing number of areas countrywide are in a death spiral. Many rural counties are losing choices, and that puts the insurance companies in control of the state regulators.

ACA needs fundamental reform, and some of its greatest supporters are saying that in closed circles.

More detail on Minnesota. The final compromise is that rate hikes were so extreme that the state is going to cover 25% for individuals with individual coverage who are not eligible for the federal subsidies:
https://www.healthinsurance.org/minnesota-state-health-insurance-exchange/

[jalan48]

13. Health Insurance is not Health Care. Health Care Shouldn't be a Money-Making Operation.

[TrekLuver]

15. I agree..this should not be for profit !!!!!! No kind of insurance should because they are only in

the business of denying claims.

[Dem2]

16. Then shut down Aetna

They're the worst effing a-hole "insurance" company anyway. Fuck 'em. Destroy them.

[Tanuki]

17. Aetna CEO received $27.9 million in compensation in 2015.

Obamacare is not the problem.


http://www.courant.com/business/connecticut-insurance/hc-aetna-executives-pay-20160408-story.html

..."Aetna Chairman and CEO Mark Bertolini received $27.9 million in compensation last year, according to a filing Friday with the Securities and Exchange Commission.

.......Other executives received the following compensation:

Chief Financial Officer/Chief Enterprise Risk Officer Shawn Guertin: $5.59 million, not including $4.2 million in restricted stock and stock options;

Consumer Health and Services Executive Vice President Gary Loveman: $480,782, not including $7.5 million in restricted stock and stock options;

President Karen Lynch: $8.7 million, not including $2.7 million in restricted stock and stock options;

Government Services Executive Vice President Francis Soistman Jr.: $3.3 million, not including $3 million in restricted stock and stock options."

[Lint Head]

18. Health insurance companies should be referred to as death insurance companies. As opposed to the

companies who sell life insurance for the actuality of death. Insurance companies would love a system where they never have to pay out a health insurance claim. Just pay us and hope you don't die if you can afford it. Otherwise DIE.

[JMCoast]

19. Another deplorable

CEO who is all pissed off because his merger with Humana was called off. Poor guy, must be worried about less millions coming his way. All the more reason to implement Medicare for all. Get these bastards out of our health care!