Health Insurer Aetna to End Individual Coverage to Californians in 2014
20th June 2013
Last month, Aetna announced it would not join with California’s new state-run insurance market for consumers, a key component of the new federal healthcare law. In 2011, Aetna trailed Anthem Blue Cross, Kaiser Permanente, and Blue Shield of California; the three groups totaled 87% of the market share in the state, while Aetna only had 5.2%.
Just as minimum-wage laws mean that some people get priced out of the job market, government-controlled insurance means that some people will get priced out of the insurance market. Too bad, so sad. Clutch your Obama Phone and weep.