Wednesday, August 17, 2016

Aetna Pulling Out Of Obamacare, Why?

Aetna CEO Threatened Obamacare Pullout If Feds Opposed Humana Merger
Jonathan Cohn | Senior National Correspondent, The Huffington Post
"Aetna officials said the pullout was necessary because of Obamacare’s problems ― specifically, deep losses the insurer was incurring in the law’s health insurance exchanges. But the move also was directly related to a Department of Justice decision to block the insurer’s potentially lucrative merger with Humana, according to a letter from Aetna’s CEO obtained by The Huffington Post.

"“It is very likely that we would need to leave the public exchange business entirely
and plan for additional business efficiencies should our deal ultimately be blocked."
Aetna CEO Mark Bertolini to the Department of Justice, July 5

My Comments About The Article Above
If any of it's true this is one more reason why federal regulators shouldn't let companies get so big as to have the government and customers over a barrel if they don't get their way. Capitalism succeeds for all of us when there's a highly competitive market environment.

I realize there's a bunch of fans out there against government regulation, but without it there would be nothing to stop these mergers until there would be only one mega company left

Imagine what the world would be like if there was only one or two banks, insurers, hospitals, auto makers or food companies from coast to coast.

When companies can get so powerful as to back the government into a corner imagine what they would be capable of doing to individual customers.

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