Are we going to get beat up?
Aetna CEO Mark Bertolini says there could be a scenario in which he might have to quit ObamaCare before it does too much harm to his company.
Mark Bertolini told CNBC’s Squawk Box ObamaCare ‘has failed to attract the uninsured.’ He said he’s preparing projected rates for 2015 and is afraid they could increase by double digits. He was asked if there were circumstances that would make his company get out of ObamaCare,
“Are they going to be double-digit [increases] or are we going to get beat up because they’re double-digit or are we just going to have to pull out of the program?” Bertolini asked in a “Squawk Box” interview from the World Economic Forum in Davos, Switzerland. “Those questions can’t be answered until we see the population we have today. And we really don’t have a good view on that.”
Bertolini says they’ve just rearranged the insurance deck chairs at this point, or, as CNBC put it,
He said that so far, Obamacare has just shifted people who were insured in the individual market to the public exchanges where they could get a better deal on a subsidy for coverage. “We see only 11 percent of the population is actually people that were firmly uninsured that are now insured. So [it] didn’t really eat into the uninsured population.”
I’m not a big fan of insurance companies, but I do wonder if Bertolini will “get beat up” by the Obama Administration if he doesn’t bend to its wishes. Obama’s thugocracy scares another citizen.