Gee, who could have seen this coming?
(The Hill)Â In a blow to the health care law, Aetna — one of the largest health insurers in the country — announced Monday that it will significantly scale back its presence on the ObamaCare marketplaces next year.
The company said it will scale back from participating in 15 states this year to just four states in 2017.
“As a strong supporter of public exchanges as a means to meet the needs of the uninsured, we regret having to make this decision,†Aetna CEO Mark Bertolini said in a statement, citing a loss of $200 million in the second quarter.
Of course, Team Obama in no way sees this as a problem, because, let’s face it, they can’t admit that this is a disaster. A disaster that was predicted prior to passage.
Nor should you feel bad for Aetna. Like so many insurance companies, they were cheerleaders for Ocare, thinking they would make some sweet, sweet cash off it.
What this will mean, though, are calls for moving towards single payer, where the government is the insurance company. Really, this was the goal the whole time. They’ll say that since private companies cannot provide coverage, then the government must do it.
