Aetna decides to leave Delaware Health Insurance Marketplace

Aetna decides to leave Delaware Health Insurance Marketplace

Health insurance services provider Aetna has confirmed that it will discontinue its participation in the Health Insurance Marketplace in the state of Delaware next year.

The nation’s third-largest health insurer has informed the Delaware Department of Insurance that it will not be participating in the Health Insurance Marketplace in the state in 2018. Aetna’s exit will leave Delaware with just one option, viz. Highmark Blue Cross-Blue Shield of Delaware.

The insurer’s decision will affect 11,854 Delaware residents who have already bought insurance plans from Aetna through the marketplace. Existing insurance coverage plans will last through the end of 2017.

Dustin Knepper, one of the many affected customers, said, “(Blue Cross-Blue Shield) is too expensive. I’m crossing (my) fingers President Trump comes up with a solution.”

Meanwhile, some industry analysts have warned that more price hikes are likely for the controversial Obamacare insurance markets.

Aetna tried to justify its decision by pointing out that it has been suffering huge losses in the marketplace. Between 2014 and 2016, the insurer suffered a loss of $700 million, and an additional loss of $200 million is being projected for this year.

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