Aetna exits Obamacare exchanges over cost concerns

Insurer Aetna announced this morning it will quit offering polices on 70 percent of Obamacare exchanges next year, citing $430 million in losses since the beginning of 2014. After offering policies in 15 states this year, Aetna will only provide coverage in four next year—Delaware, Iowa, Nebraska, and Virginia. Aetna’s decision follows a similar move by Humana, announced last month. Democrats suggest the two insurers, currently fighting government opposition to their proposed merger, are using the exchange exits as a negotiating tactic. But they’re not the only insurers calling Obamacare financially unworkable. UnitedHealthcare also plans to pull out of most exchanges next year. That leaves Anthem and Cigna as the only major insurers still participating.