|OBAMACARE BECAUSE WE CARE …|
Aetna, a fortune 100 company with $34.2 billion in revenue, has pulled out of the government-run exchanges in three states, including the state of Connecticut, where it is based.
"We believe it is critical that our plans not only be competitive, but also financially viable," said Aetna spokesperson Cynthia Michener. "On New York, as a result of our analysis, we reluctantly came to the conclusion to withdraw."
Obamacare's individual mandate requires all Americans to have health insurance or pay a penalty. Some health insurers are foregoing participation in the Obamacare exchanges due to costly mandates to provide a selection of services and a requirement to accept all individuals regardless of pre-existing conditions.
Aetna never intended to participate in California, and Anthem Blue Cross and United Health Group made a similar decision to steer clear of California's Obamacare exchanges as well.
In 2009, President Barack Obama promised his government healthcare overhaul would not threaten personal insurance plans.
"No matter how we reform health care, we will keep this promise: If you like your doctor, you will be able to keep your doctor, period. If you like your health care plan, you will be able to keep your health care plan. Period," he claimed. "No one will take it away. No matter what."