The story in the news is that the Healthcare Exchanges are failing. Insurers are dropping out, citing their ability to make a profit. This often leaves entire states with only one insurance carrier on the exchange and limits choices for consumers.
New documents revealed in the federal anti-trust lawsuit blocking Aetna’s merger with Humana show this is not the case. In fact, an executive in the Florida market was shocked to hear Aetna would be withdrawing from that market. It was profitable! They were making money!
Also uncovered were actions which the judge called out for bordering on malfeasance. Aetna went to great lengths to hide the real reasons for its actions—it was pulling out of exchanges to apply pressure on the Department of Justice to give favorable treatment to its merger. Profit had nothing to do with it, and while some markets were costing money, over all Aetna was making money on the exchanges. It had no reason to pull out of these exchanges, except as a way to punish the government for not looking favorably on its merger.
These documents prove once again that insurance companies will do anything to further their interests (profits). They will even go to great lengths to hide the truth, if they feel it will help their business.
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