Despite ACA criticism, some insurers have been profitable
Some insurers which have criticized the Affordable Care Act (ACA) exchanges have made money off those plans, according to a new report from USA Today.
In one example, Blue Cross Blue Shield of North Carolina, which had threatened to leave the exchanges for 2017, made nearly $400 million through the first three quarters of 2016, erasing its losses from 2014 and 2015. A company spokesperson contested that finding, saying it doesn’t include operating expenses.
One of the highest-profile ACA exits, Aetna, had said it had lost $430 million on exchange plans since January 2014. According to the report, it was profiting in some states, including Texas and Pennsylvania, but decided to leave those exchanges anyway after it was sued by the federal government over its proposed merger with Humana.
“We don't discuss performance at the state level,” said Aetna spokesman T.J. Crawford.
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John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.