Wednesday, August 17, 2016
Aetna pulling out of Obamacare
Why? Because the Justice Dept. refused to approve its mega-merger with Humana and thereby reducing market competition, aka monopoly. Of course Aetna said it's because of the losses it is incurring from having to take on sick patients. It is of course true, but it is also true that other areas of its exchange business is booming and more than makes up for those losses in healthy profits. It seems the bottom line is Aetna and the health insurance companies generally want less competition to charge whatever the hell they want and limit coverage. In other words, they want to go back to the good old days of people literally dying so they can make a killing instead of a healthy profit. The Republicans are of course on board with this.