After more than a year of scaling back its participation in Obamacare’s marketplaces, Aetna finally announced last week it would completely withdraw from Obamacare’s individual market exchanges in 2018.
Aetna’s decision is just the latest body blow to a law on the verge of collapse.
- Earlier this year, another major insurer, Humana, announced its departure from all of Obamacare’s individual market exchanges in 2018.
- That’s in addition to insurers like UnitedHealth and BlueCross BlueShield, which have already fled the Obamacare scene in several states, and left millions of Americans with just one insurance option (and potentially none) next year.
- Just look at Iowa, where the last remaining Obamacare insurer, Medica, could exit the exchanges as well—leaving families in 94 out of 99 counties without a single insurer to turn to for their coverage.
The insurers that have not left the Obamacare exchanges in certain states are forced to dramatically increase premiums, dial back the number of options offered, and reduce access to the care people need and the doctors people like.
- Just last week, health insurers in Virginia requested a 20 percent premium increase for next year.
- In Maryland, rates could increase by more than 50 percent. As the Chief Executive of Maryland’s CareFirst warned, the market is in the early stages of a “death spiral.”
Following last year’s abysmal health care headlines, it’s clear Obamacare is only going to get worse—further hurting America’s workers and families as they struggle to keep up with skyrocketing premiums, lack insurance that works for them, and cannot access the care they need.
That’s why House Republicans passed the American Health Care Act, legislation to rescue Americans from this failing health care law. The legislation lowers costs, increases choices, and returns control of health care back to states and the American people.
As the Wall Street Journal editorial board wrote:
“The GOP’s American Health Care Act includes tools that can mitigate some of the damage, and over time nurture a richer, more liquid insurance market.”
With President Trump’s leadership, Congress and the Administration will work together to fix this broken health care system and help ensure Americans have access to affordable, quality health care tailored to their needs.