Aetna And Humana Want to Merge And Will Hold Exchanges Hostage in The Move
Submitted by: lalapancakes⚫ 6 months ago
To me, this sounds like extortion but what do I know? I'm just a lowly prole.
The U.S. based health insurer Aetna told the Obama administration that if it’s not allowed to merge with Humana, then it’s withdrawing from several of the Affordable Care Act’s exchanges. And it doesn’t matter at the end of the day because the article also says Humana plans to withdraw by 2017 too.
"Monday’s announcement marked a change in Aetna’s view on the exchanges. Earlier this year, Bertolini called the exchanges ‘a good investment’ despite the losses. The Department of Justice filed lawsuits last month attempting to block the Aetna-Humana merger, as well as a proposed merger between rivals Cigna and Anthem.
While Republicans jumped on Aetna’s decision as proof of Obamacare’s failures and reiterated calls to repeal and replace the law, some Democrats issued statements questioning the insurer’s motives.
‘I’m troubled by reports that this announcement could be in retaliation to the Justice Department’s decision last month to file a lawsuit to block a merger between Aetna and Humana,’ said Rep. Frank Pallone (D-N.J.), the ranking members on the Energy and Commerce Committee, which has jurisdiction over health care issues. ‘Aetna’s CEO had touted the ACA Marketplace as a good investment in April, which raises very serious concerns about Aetna’s sudden change of heart.’”