(FoxNews.com) – The leader of one of the U.S.’s largest health insurance agencies—who has been saying for months that ObamaCare is on the ropes — said Wednesday that statistics indicate that the law has now entered a “death spiral.”
Aetna’s CEO Mark Bertolini told The Wall Street Journal that the health law’s market is nearing failure because healthier people have dropped out while premiums continue to climb.
Health insurer Humana announced it is leaving the law’s public insurance exchanges for next year as it regroups after ending its proposed combination with rival insurer Aetna. Humana Inc. covers about 150,000 people on exchanges in 11 states.
The Trump administration took steps Wednesday intended to help calm jittery insurance companies and make tax compliance with former President Obama’s health law less burdensome for some. The administration’s actions signal a change in direction.
For consumers, the proposed rules mean tighter scrutiny of anyone trying to sign up for coverage outside of open enrollment by claiming a “special enrollment period” due to a change in life circumstances such as the birth of a child, marriage, or the loss of job-based insurance. Also, sign-up season will be 45 days, down from the current three months.