Warren, Sanders, Lead Senate Inquiry Into Aetna's Obamacare Exit

[LongTomH]

Progressive senators in Congress are demanding answers as the the real reason Aetna left the Obamacare exchanges. Huffington Post reports:

WASHINGTON ― Five progressive senators are pressing Aetna to account for its decision to scale back its participation in Obamacare and questioning the company’s assertion that a Department of Justice review of a pending merger is reason enough to bail on the nascent marketplace.

Independent Sen. Bernie Sanders (Vt.) joined Democratic Sens. Elizabeth Warren (Mass.), Ed Markey (Mass.), Sherrod Brown (Ohio) and Bill Nelson (Fla.) in penning a letter to Aetna CEO Mark Bertolini on Thursday.

The lawmakers demand an explanation for the insurer’s sudden shift in strategy about competing in the health insurance exchange marketplaces created by the Affordable Care Act after the Justice Department announced it opposed the company’s merger with Humana.

Aetna’s decision to exit 11 of the 15 states where it had sold policies on the exchanges happened abruptly, after the company had publicly committed to remaining in those states ― and even floated plans to expand its presence in this segment of the health insurance market.

And the company’s declaration that it would abandon those exchanges came after it warned the Justice Department that if President Barack Obama’s administration took an unfavorable position on the merger, Aetna would reconsider its commitment to Obamacare.