During a quarterly earnings call, Hartford, Conn.-based Aetna CEO Mark Bertolini said the payer will likely pull out of all ACA exchanges, Business Insider reports.
Here are five things to know:
1. To participate in ACA plans in 2018, payers must submit plans for their offerings by April 2017.
1. Mr. Bertolini said the company does not plan on operating in the market next year, saying "Currently, where we stand, we'd have to have markets worked up ... prices worked up for April 2017 to apply, and there is no possible way that we'll be able to do that given the unclear nature [of where] that regulation is headed," Business Insider reports.
3. Regarding the ACA, he said the health law has not met its intended goals and the lack of a major policy shift will continue leading to ACA-compliant individual commercial products' demise.
4. Mr. Bertolini did say the company feels positive about healthcare reform prioritizing affordable, quality healthcare and believes reform will work to meet the needs of uninsured Americans.
5. This is not the first time Aetna said it would pull out from ACA exchanges. In April 2016, Aetna made waves when it said it would withdraw from various ACA exchanges.