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JRLeft

(7,010 posts)
Thu Aug 18, 2016, 11:26 AM Aug 2016

Aetna Threatened to Quit Obamacare if U.S. Blocked Humana Merger

Aetna Inc warned in July that it would exit much of the individual Obamacare health insurance market if the government challenged its deal to buy rival Humana Inc, according to a letter it sent to the U.S. Department of Justice.

The public release of the letter came after Aetna said on Monday that it would pull out of selling individual insurance on the government-run websites in 11 states, citing financial losses on the business.

The company's withdrawal followed similar moves by UnitedHealth Group Inc and Humana, representing a blow to the marketplace for the government-subsidized insurance plans created under President Barack Obama's signature healthcare reform law.

In the July 5 letter, Aetna Chief Executive Officer Mark Bertolini said it would have to cut back because it would be some time before the company recouped the investment it had made in this market over the past 2-1/2 years.

"Our ability to withstand these losses is dependent on our achieving anticipated synergies in the Humana acquisition," Bertolini wrote. A copy of the letter was posted on the Huffington Post website, which obtained the document though the Freedom of Information Act.

http://www.nbcnews.com/business/consumer/aetna-threatened-quit-obamacare-if-u-s-blocked-humana-merger-n633456

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Aetna Threatened to Quit Obamacare if U.S. Blocked Humana Merger (Original Post) JRLeft Aug 2016 OP
So newer insurance companies can get the business treestar Aug 2016 #1
We need to do away with the private system. JRLeft Aug 2016 #2
How would we pay for it? nt clarice Aug 2016 #3
Cut the military budget. JRLeft Aug 2016 #4
Do you think that that is a good idea...considering the times? nt clarice Aug 2016 #5
Yes, we will still have the largest military budget in the world. JRLeft Aug 2016 #6
I can think of many areas to cut spending. I just don't think the military is one. Peace.nt clarice Aug 2016 #7

treestar

(82,383 posts)
1. So newer insurance companies can get the business
Thu Aug 18, 2016, 11:41 AM
Aug 2016

They opened up the market to a newcomer. Or to others.

 

JRLeft

(7,010 posts)
6. Yes, we will still have the largest military budget in the world.
Thu Aug 18, 2016, 02:49 PM
Aug 2016

Our problems are from intervening.

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