Thanks to ObamaCare, Aetna will stop selling new individual health policies and terminate existing ones in 2012

Thanks to ObamaCare, Aetna will stop selling new individual health policies and terminate existing ones in 2012 Scotty Starnes | February 2, 2011 at 11:47 AM | Tags: Aetna, Anjie Coplin, Colorado, health care mandate, health insurance, Obamacare | Categories: Political Issues | URL: http://wp.me/pvnFC-4kc

The intended consequences of government's takeover of our health care system. Progressives want to bankrupt insurance companies and get Americans off of employer-paid health benefits. They said so themselves...

Thanks to ObamaCare, they are getting closer to getting their progressive wish.

Denver Business Journal reports:

A spokeswoman for Aetna confirmed Monday that the insurer will no longer sell new individual-market health insurance policies in Colorado and will terminate current policies held by state residents no later than July 31, 2012.

The change represents Aetna’s third major recent pull-back on health-insurance offerings in Colorado. The Hartford, Conn.-based company announced in the second half of 2010 that it will also stop selling new small-group and child-only individual-market policies.

Anjie Coplin, Aetna’s regional director of communications, did not specify in an email to the Denver Business Journal why the company had decided to end its presence in Colorado’s individual health market.

But she noted that the company will continue to sell large-group plans and dental and life products and said that officials “believe we remain competitive in these markets.â€

And in a Dec. 21 letter to the Colorado Division of Insurance, Aetna General Counsel Mary Anderson said that Aetna “can no longer meet the needs of its customers while remaining competitive in the Colorado individual health insurance market.â€

“As a result, please consider this letter formal notification that Aetna will stop offering and will withdraw its individual policies from the Colorado market effective February 1, 2011,†Anderson wrote.

Insurers have complained that federal health care reform has made offering their product more expensive. Major changes have included the end of lifetime coverage limits, a ban on rejecting policies to children because of pre-existing conditions and a requirement that 80 percent of individual health policy premiums must go to health care rather than to the companies.

Read more: Aetna retrenches in Colorado | Denver Business Journal

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