Another nail in the coffin for the Affordable Care Act. While doing an interview with the Wall Street Journal Aetna CEO, Mark Bertolini, commented on Obamacare saying, “It is in a death spiral.”
Bertolini went on to predict that most insurance companies will quit the market by 2018. This isn’t a bold prediction given the fact Humana has already dropped out of Obamacare for next year. He also said back in October that the rising premiums would force those who are already healthy out of the market place.The increasing concern of medical costs as fewer and fewer healthy consumers enroll are among the conditions that make for an insurance death spiral.
With Bertolini correctly predicting the deterioration of the ACA and predicting further decline, it’s no wonder most Americans support repealing and replacing it. Now congress just has to get to work!
If only Obama was warned of these problems 6 years ago. Oh wait….