Aetna pulls out of New York health insurance exchange

[PoliticAverse]

(Reuters) - Aetna Inc, the No. 3 U.S. health insurer, said on Thursday it has decided not to sell insurance on New York's individual health insurance exchange, part of the country's healthcare reform.

New York is the fifth state where Aetna has pulled its application to sell the plans that go on sale on October 1 and into effect on January 1, 2014. It has also reversed course in Maryland, Ohio, Georgia, and Connecticut, where it is based.

Aetna spokesman Cynthia Michener said it made the move after assessing its business strategy, following the acquisition of smaller insurer Coventry Healthcare in May. Coventry also filed applications to sell plans in more than 10 states.

"Our goal for 2014 is to participate in a limited number of state exchanges where we can be competitive and add the most value to the market," she said in an emailed statement.

Read the rest: http://finance.yahoo.com/news/aetna-pulls-york-health-insurance-145710260.html

[Squinch]

1. The comments section on that article is interesting. We are surrounded by dunces.

[denverbill]

2. My guess why-their rates would have to go way down and existing customers would see.