Wednesday, August 17, 2016 – 09:00 a.m.
We said it more than a year ago and it’s coming true.
Obamacare is melting down right in the middle of the U.S. presidential election.
Mega-insurer Aetna has now joined the list of companies pulling out of offering coverage under state insurance exchanges and cooperatives.
Earlier this year insurers Humana and United Healthcare announced major cutbacks or elimination of their offerings.
Insurers, across-the-board, are bleeding money, with promised reimbursements from the federal government evaporating.
The losses are something the insurers never planned on and will not tolerate.
Open enrollment for government sponsored plans will commence November 1 and some state insurance commissioners are already announcing the proposed rate hikes.
In California that number looks to be around 14 percent.
Parts of some states have either no insurance coverage to offer or only one company to chose from.
Recent reports now have premiums under the Affordable Care Act eating up as much as 20 percent of family incomes.
Here’s recent coverage on the growing problem:
Breitbart: At Least Six Swing States Face Double-Digit Premium Hikes under Obamacare
Townhall: Humana, Cigna To Tennessee: Our Original Double-Digit Obamacare Premium Estimates Are Even Higher Now
Zero Hedge: Obamacare Sticker Shock: Average 2017 Premium Surges 24%