Because they all lose money without the government pilfering the funds to sustain the artificially low costs of ogarbagecare.
Insurance giant Aetna (AET) has joined a growing number of insurers warning that the ObamaCare exchanges are failing in just the way critics said they would. This year’s anemic enrollment won’t help.
This week, Aetna CEO Mark Bertolini warned that “we continue to have serious concerns about the sustainability of the public exchanges.” Aetna lost more than $100 million last year on the 750,000 enrollees it has through ObamaCare exchanges.
Bertolini’s warning comes after UnitedHealth Group (UNH) announced that it might pull out of ObamaCare entirely next year, after getting hit with a $475 million loss in 2015. It expects to lose another $500 million this year. Last fall, CEO Stephen Hemsley said that “we can’t really subsidize a marketplace that doesn’t appear at the moment to be sustaining itself.” That, he said, “basically is an industry-wide proposition.”
It was always cow manure. In Texas the masses have been herded into an HMO product with a very high deductible and out of pocket. Nothing but nothing is free and the masses must accept that healthcare costs a lot. It doesn’t matter if you add millions of people to the rolls. The sickly ones are outpacing the healthy that never use the system.