Aetna CEO: Obamacare in ‘death spiral’

Aetna Inc. Chief Executive Officer Mark Bertolini escalated his criticism of the Affordable Care Act, saying Obamacare’s markets are nearing failure as premiums climb and healthier individuals drop out. “It is in a death spiral,” Bertolini said in a video interview with the Wall Street Journal that aired Feb. 15 on the newspaper’s website. He…

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  1. The Aetna Chief conveniently omits that the commercial health insurance market was in a death spiral long before Obamacare. Commercial premiums had increased at more than double the rate of inflation for over twenty years, forcing over fifteen percent of the population, many young and healthy into the ranks of the uninsured. This adverse selection necessitated even further rate increases until over fifty million Americans had no coverage. The very definition of a death spiral.

    What we have now is simply bullying by the large, and getting larger insurers. A public option would have solved that.