Don’t worry, nothing to see here, move along now.
From the Washington Examiner:
Health insurer Aetna announced Thursday that it would completely withdraw from the Obamacare exchanges in 2018, after seeing its profits soar from reducing its participation this year.
The company said during an earnings call that it was withdrawing from the exchange in Nevada, the last state it had considered staying in. Aetna was leaving the possibility open because it was applying for a Medicaid managed care contract, and the state gives extra consideration to insurers that participate in both programs.
During its second-quarter earnings call on Thursday, however, Aetna said it was not moving forward with the recently awarded contract and would be leaving the exchange as well . . .
A disproportionate number of unhealthy customers have signed up for the exchanges, which provide tax subsidies to pay for insurance, causing unbalanced risk pools for many insurers.