Aetna CEO Sees Obama Health Law Doubling Some Premiums

Published Online: December 13, 2012
Health insurance premiums may as much as double for some small businesses and individual buyers in the U.S. when the Affordable Care Act’s major provisions start in 2014, Aetna Inc. (AET)’s chief executive officer said.

While subsidies in the law will shield some people, other consumers who make too much for assistance are in for “premium rate shock,” Mark Bertolini, who runs the third-biggest U.S. health-insurance company, told analysts yesterday at a conference in New York. The prospect has spurred discussion of having Congress delay or phase in parts of the law, he said.

“We’ve shared it all with the people in Washington and I think it’s a big concern,” the CEO said. “We’re going to see some markets go up as much as as 100 percent.”

Read the full story: http://bloom.bg/UCofzW

Source: Bloomberg

Feature
Recommended Articles
Christine K. Cassel, MD, president and CEO of the National Quality Forum, sent her best wishes to The American Journal of Managed Care for its 20th year anniversary in publication.
The world of value-based purchasing needs to quickly adopt the use of electronic health records and their ability to share data around a single patient, according to Christine K. Cassel, MD, president and CEO of the National Quality Forum.
California’s recent initiatives to address the impact of high priced hepatitis C drugs could not have come at a better time, as a new analysis estimates that the state’s projected specialty drug expenditure would be $4.77 billion in the next year alone.
Aetna's purchase of Humana would create a managed care company with $115 billion in revenues, of which 56% would be from government business. In addition, the combined company would have the largest enrollment of members on public exchanges, with 1.7 million members.
Scott Gottlieb, MD, and Ted Okon, MBA, discuss controversies surrounding a proposed legislative amendment that would allow the government to negotiate drug pricing with pharmaceutical companies.