Aetna, Anthem says business on the exchange is as expected

Despite previously stated challenges about the Affordable Care Act exchanges and warnings of departure from UnitedHealth Group, both Aetna and Anthem said Friday their businesses had not worsened, according to Reuters.

Both payers said business performed as expected, including plans on the exchange, according to the report. These announcements follow UnitedHealth's statement Thursday it cut its profit forecast in response to an expected $425 million loss on individual plans sold on the exchange in 2015 and 2016.

In a statement, Anthem President and CEO Joseph Swedish said Anthem remains committed to enhancing access to healthcare both inside and outside of the exchanges and it will continue work to improve the stability of the market.

According to Reuters, Aetna said last month it was not making money from plans on the exchanges, but it expects profitability to improve next year. Anthem also said last month business on the exchanges was a challenge, according to the report.

Anthem is the second-largest payer on the exchanges, and its shares rose 1.8 percent to $130.15 after falling 9 percent Thursday, according to Reuters. Comparatively Aetna shares rose 3.6 percent to $103.55 after falling 7 percent Thursday, and UnitedHealth shares rose 2.4 percent to $113.23 after falling 6 percent Thursday, according to the report.

Neither payer indicated dropping plans on the ACA exchanges.


More articles on payer issues:

UnitedHealth may exit ACA exchanges due to losses: 7 things to know
Health insurers in the news: Nov. 12-19
Leading health insurers collectively add 4.3M members in Q2

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Top 40 articles from the past 6 months