Aetna expects nearly $225M in 2017 losses, fueling decision to pull out of more ACA exchanges

Aetna said it plans to withdraw more plans from ACA exchanges as it expects hefty 2017 losses, according to The Wall Street Journal.

Here are five things to know:

1. In 2016, the payer lost $450 million on its individual business. Anthem projects to lose nearly half of that total in 2017.

2. The company's individual enrollment is 255,000. Enrollment was 964,000 at the end of 2016.

3. During the first quarter of fiscal year 2017, Aetna's losses totaled $381 million. Revenue decreased 3.4 percent during the quarter.

4. Aetna Chief Financial Officer Shawn Guertin said to the WSJ the company is seeing "higher cost levels than we had previously projected," concerning its enrollees.

5. During a call with analysts, Mr. Guertin said the company will likely "significantly" decrease its exposure in the individual marketplace next year.

 

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