Apparently some Democrats never learned that lesson.
Except for those living under a rock, everyone should know that Obamacare is collapsing and carriers are dropping out of the market on a weekly basis. Unlike the federal government (that has no idea what a balance sheet is), private industry continues to operate until they can no longer stand to lose money.
Health insurance carriers have been taking it in the shorts since Obamacare became law and lately most of them have had enough and are leaving the market in droves.
Enter the extreme left wing of the Democrat party, wagging their fingers, and saying "You can't do that".
Senators Sanders, Warren, Markey, Brown and Nelson are demanding an explanation for Aetna's planned withdrawal from several Obamacare markets.
“We are particularly troubled that Aetna’s decision to leave the ACA exchanges appears to have been motivated by the Justice Department’s decision to challenge Aetna’s proposed $37 billion merger with Humana — a deal that the Justice Department and many experts predicted would harm competition in the health insurance market and negatively impact the cost and quality of health care. Aetna could not have been surprised at the concerns raised by regulators about this merger.” - Benefits Pro
For those who need a translation ..........
Aetna was willing to play in the Obamacare pool earlier in the year when they thought they would broaden their base and have access to Humana policyholders. In May of this year Aetna (and other carriers) were still assessing the cost of Obamacare and thought the markets would be robust with other carriers sharing the weight of Obamacare losses.
Since then, the red ink has grown more red and some carriers have said enough is enough and are going home.
But idiots in DC that have never had a job in the real world and have no idea how commerce and risk management really work are demanding Aetna to justify a perfectly logical business decision.
Somewhere a village is missing their idiot.
You can find them in DC.
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