Major health insurance company announces it’s dumping Obamacare exchange

Another insurance company joins the list of those escaping the failing healthcare system known as Obamacare. Starting next year, Aetna Inc. will will no longer offer Obamacare plans in the few remaining states it had been available.

In a statement released Wednesday, Aetna said they have “completely exited the exchanges.”

Earlier this month, we reported that Aetna’s Chief Financial Officer Shawn Guertin had mentioned the possibility of exiting the exchanges. At the time, the company was taking steps to limit the losses it was taking financially. But now Aetna says it may lose more than $200 million this year alone because of the Affordable Care Act.

In the wake of Aetna’s decision, people in Nebraska may end up with only one insurance option, Medica, and even that is an uncertainty. A Medica spokesman said the company was still reviewing all options.

Many health insurance companies are abandoning the Obamacare exchange, all citing huge financial losses. Those that stay are raising the premiums by double-digit percentages.

The instability stems from fewer people signing up for plans than expected. Also affecting the costs is the number of insured who are seriously ill. The total number turned out to include more people than insurers expected.

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