Obama’s crowning achievement during his presidency is in real danger of crashing and burning before his very eyes. According to the Daily Caller, Obamacare is crumbling under the weight of staggering losses that insurance companies have been facing.
Aetna, one of the largest insurance companies in the United States is removing themselves from Obama’s failed policy after losing over $200 million in the past three months alone.
Aetna isn’t the first insurance company to distance themselves from Obamacare. A Humana, one of the largest health insurance companies in the country pulled out of some Obamacare markets in July. The largest health insurance company in the US, UnitedHealth Group, backed out of most state Obamacare exchanges in April.
Mark Bertolini, Aetna CEO said that the company had no choice but to pull out of certain states because they are unable to recuperate losses due to Obamacare’s “inadequate risk adjustment mechanism.” Aetna will now only offer insurance through Obamacare in 4 states.