Aetna backs out of Delaware

The insurance company Aetna, one of just two currently in the Delaware healthcare marketplace, will be leaving after 2017. 

The announcement comes following losses of approximately $700 million from 2014 to 2016, with an estimated loss for 2017 at about $200 million.

There are currently 11,854 Delawareans insured through Aetna's exchange plans.  In a release from the Department of Insurance, following 2017, anyone with a pre-existing condition for which they were being treated may be able to continue having that treatment covered with that provider.

Delaware Insurance Commissioner Trinidad Navarro released the following statement.

"I am disappointed that Aetna will not be servicing the health needs of Delawareans in 2018. Given the uncertainty and instability surrounding the future of the Affordable Care Act, however, I understand their reasoning. I would hope that our elected officials in Washington will come up with solutions to guarantee that health insurance in Delaware and elsewhere is both available and affordable. Continuing funding for Cost-Sharing Reductions is a first step in the right direction."

Vincent Ryan, senior advisor to Commissioner Navarro, echoed Navarro's sentiments.

"There's a lot of instability and uncertainty in Washington surrounding the Affordable Care Act with the political landscape in general down there…  These losses primarily largely stem from the federal government not paying out on what's called the risk corridor payments to the companies to kind of mitigate the losses that the companies face.  And because those haven't been paid to the companies, that's why we're seeing great numbers of losses."

As for the pockets of Delawareans, Ryan says the lack of competition is never good.  With only Highmark left in the marketplace, Ryan says he expects premiums to rise.

"It's an uncertain road that lies ahead of us, but I would not be surprised if the premiums would sharply increase."