The withdrawal of Aetna from many of its Obamacare markets has unleashed a torrent of commentary about how Obamacare is now well and truly doomed. From Republicans, this is the usual hot air. From Democrats, it's a little different. It's also way overblown, and I'm happy to see Jonathan Chait make the case for Obamacare's basic solvency here. Go read it.
For myself, I just want to focus on one of Chait's points: The reason Aetna withdrew is that they weren't making money.
Aetna announced Tuesday that it will be withdrawing from the Obamacare exchanges in about two-thirds of the 778 counties it's now participating in. This, Mark T. Bertolini, the chairman and chief executive, says is because too many ...
Did Aetna pull back from the Obamacare market because they were losing money? Or was it payback for the Obama administration's refusal to approve their merger with Humana? Well, they were losing money. But in a letter to the Departm...
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