Barack Hussein Obama is currently on a multi-million dollar, three week vacation in Martha’s Vineyard with his family. Unfortunately for him, this vacation was ruined this week when what he believed was the best accomplishment of his presidency was exposed as a massive failure.
The Hill reported that Aetna, one of the largest health insurers in the country, dropped a bombshell on Obamacare on Monday when they announced their business will significantly scale back its presence on the ObamaCare marketplaces next year.
“As a strong supporter of public exchanges as a means to meet the needs of the uninsured, we regret having to make this decision,” Aetna CEO Mark Bertolini said in a statement, citing a loss of $200 million in the second quarter.
This comes as many insurers have complained of financial losses on the ObamaCare marketplaces. However, the Obama administration continues to claim that this is not a sign that Obamacare is in trouble.
“Aetna’s decision to alter its Marketplace participation does not change the fundamental fact that the Health Insurance Marketplace will continue to bring quality coverage to millions of Americans next year and every year after that,” said the administration’s ObamaCare marketplace CEO, Kevin Counihan.
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