Insurance companies want to weaken Obamacare. We can’t let them [View all]

[n2doc]

Insurance companies keep pretending that participating in the Affordable Care Act exchanges is killing their business model. Aetna, one of the five largest insurance companies in the United States, announced on Tuesday that it was withdrawing from 70% of the Obamacare exchange markets it operates in by next year. And two other major insurers – UnitedHealthCare and Humana – also announced recently that they would be withdrawing their products from large portions of the exchanges where they’re available.

But this corporate hardship story couldn’t be further from the truth: Aetna’s overall profits surged last year, and its share prices have risen consistently since the ACA passed in 2010.

All the other major insurance companies have noted similar rises, even as the product that they offer has been deteriorating. Premiums have long outpaced wage increases and underinsurance is rife even among those with insurance.

So while staying wouldn’t have drastically endangered their bottom lines, the decision may, however, cause uninsured Americans looking for Affordable Care Act coverage have even fewer subpar options to pick from. One county in Arizona is slated to not have a single option available next year. These withdrawals could hurt Americans and the ACA in a way Republicans have only dreamed of.

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https://www.theguardian.com/commentisfree/2016/aug/17/obamacare-insurance-companies-want-to-weaken