Aetna’s Decision to Exit the Affordable Care Act Questioned

Recently, the private health insurance company Aetna Inc (NYSE: AET) has decided to stop participating in the governmental marketplace platform, which is the Affordable Care Act. Now a few progressive senators are responding. 

Bernie Sanders, Elizabeth Warren, Ed Markey, Sherrod Brown and Bill Nelson have questioned the company’s decision, demanding an explanation in a letter to Aetna’s CEO Mark Bertolini.

Aetna’s decision to stop participating in the exchange in 11 out of the 15 states after the Justice Department has stopped a planned merger with Humana (NYSE: HUM).

the senators wrote in the letter, “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.” 

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