As Aetna changes its home address from Farmington Avenue in Hartford to Ninth Avenue in New York City, the company plans to keep nearly all of its jobs in Connecticut and continue playing a corporate jurisdictional game that will allow it to remain in the state’s friendlier regulatory environment.
Mark Bertolini
Posted inMoney
Aetna CEO: HQ move to have ‘minimal impact’ on most Hartford employees
Aetna’s chairman and chief executive, Mark Bertolini, told his employees Friday that designating another city as the company’s headquarters would have a “minimal impact” on the “vast majority” of employees in Hartford.
Posted inHealth, Money, Politics
Malloy’s talks with Aetna were one-sided and futile
With flattery and an effort at common ground, Gov. Dannel P. Malloy wrote to Aetna’s chairman, Mark Bertolini, in March, requesting a meeting about how to keep one of the nation’s largest health insurers in Hartford. Malloy acknowledged Wednesday he never got his meeting with Bertolini, just subordinates who never articulated what changes Aetna desired to see in the only corporate home since its founding in 1853.
Posted inHealth, Politics
Insurers quietly assessing GOP health plan’s benefits and pitfalls
WASHINGTON — The nation’s health insurers are weighing the GOP’s newly released bill to replace the Affordable Care Act, which contains things they wanted – and some things they may not like, but for now keeping their opinions to themselves. “If they are smart, they are going to remain silent and let the legislation take its course,” said Rep. John Larson, D-1st District.
Posted inHealth, Politics
Aetna’s Bertolini: ACA has not met its goals
WASHINGTON — Aetna CEO Mark Bertolini said the insurer isn’t likely to expand its participation in state exchanges in 2018. Bertolini said he is working with the Trump administration on a transition to an ACA replacement.
Posted inHealth
Aetna, Humana still weighing appeal of ruling blocking merger
WASHINGTON — The day after a federal judge dealt a crusing blow to Aetna’s plans to merge with Humana, the insurance companies’ CEOs said they were still mulling over whether to appeal the decision.
Posted inHealth, Justice
DOJ says Aetna left ACA marketplaces in reaction to merger suit
Updated at 6:35 p.m.
WASHINGTON — Justice Department attorneys on Monday continued to try to undercut arguments by Aetna CEO Mark Bertolini that his company’s Medicare Advantage program competes with government-run Medicare.
Posted inHealth, Justice
Aetna, Humana defend merger plans in court
Updated at 4:57 p.m.
WASHINGTON — Opening salvos were fired Monday in the antitrust case against the proposed merger of Aetna and Humana, with Justice Department attorneys arguing the tie-up would mean sharp price hikes for Medicare Advantage plans and a disintegration of choice for people purchasing insurance on Affordable Care Act exchanges.
Posted inHealth, Politics
Insurers uncertain as Congress looks to repeal Affordable Care Act
WASHINGTON– Caught off guard by the political changes that make possible the repeal of the Affordable Care Act, the nation’s insurers are hoping Congress will replace the health care law with something that allows them to stay in business – and even thrive. “The discussion right now about repeal and replacement is making the (insurance) market very, very nervous,” Washington State Insurance Commissioner Mike Kreidler, a Democrat, said.
Posted inPolitics
As ACA faces new challenges, fixes not assured
WASHINGTON — The Affordable Care Act is facing more challenges than at any time since its initial enrollment period in 2013, when the program was bedeviled by technical glitches. Besides rising premiums and fewer choices in Connecticut and elsewhere, there’s uncertainty a new Congress and a new administration will make fixes to the ACA that will improve its health.
Posted inHealth, Politics
Senators press fight with Aetna over quitting ACA exchanges
Updated at 5:12 p.m.
WASHINGTON — A group of liberal senators and Aetna CEO Mark Bertolini continued their battle Friday, with the lawmakers accusing the insurance executive of avoiding their questions about Aetna’s decision to quit 11 health insurance exchanges.
Posted inHealth, Politics
Warren, Sanders demand Aetna explain decision to quit ACA exchanges
Updated 5:27 p.m.
WASHINGTON – In a strongly worded letter to Aetna CEO Mark Bertolini, Sen. Elizabeth Warren and several other Democrats, including Sen. Bernie Sanders, have asked the company to explain why it entered into a “risky” merger deal with Humana that now makes it financially unable to sell policies in 11 state health insurance exchanges.
Posted inHealth
Aetna said it would pull back from exchanges if merger wasn’t approved
WASHINGTON — Aetna CEO Mark Bertolini told the Justice Department the insurer would have to pull back from the Affordable Care Act’s state insurance exchanges if a proposed merger deal with Humana was not approved, provoking strong reaction on Capitol Hill.
Posted inHealth, Justice
Aetna offers divestitures, Cigna looking at its options
WASHINGTON — Aetna and Humana said Tuesday they have an agreement to sell Medicare Advantage business covering 290,000 people to rival insurer Molina if their planned merger is allowed to be completed. Aetna also said it is halting 2017 plans to expand participation on public exchanges and is reviewing all of its current participation on Affordable Care Act exchanges.
Posted inHealth, Politics
CT signs off on Aetna-Humana merger, but other hurdles remain
WASHINGTON — The Connecticut Insurance Department has signed off on Aetna’s proposed merger with Humana, but other hurdles remain for that deal and another merger proposed by Cigna and Anthem.