Aetna CEO: Obamacare "In A Death Spiral"
Aetna CEO Mark Bertolini continues to make headlines with his frank views. Wednesday, one day after announcing the end of his company's merger plans with Humana, he had some choice words for the Wall Street Journal, when asked about the future of Obamacare.
"There isn't enough money in the ACA today, as it's structured, even with its fees and taxes, to support the population that needs to be served. It is in a death spiral," he said, in front of an invited audience.
That interview was noted by President Donald Trump as he took to Twitter Thursday morning.
Bertolini was roundly criticized for pulling Aetna out of all but four state-based exchanges this year, with federal authorities accusing him of using participation in Obamacare as a bargaining chip, to get his proposed merger deal with Humana approved.
Humana announced Tuesday it would quit all of its ACA business in 2018; it's the first of the big insurers to exit Obamacare. Aetna has said it will make its own determination by April 1.
The Aetna-Humana deal was denied largely on the grounds it would stifle competition in the Medicare Advantage market.
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