So far 11 million people have signed up for health insurance through the various exchanges. This might sound like a lot. It is not. Around 150 million people receive health insurance through employers. Another 66 million people receive through it through Medicaid and close to 55 million are enrolled in Medicare.
Blue Cross Blue Shield requested a rate increase of 21.4% on its Marketplace plans offered in Georgia. On Tuesday, the Georgia state insurance department approved their request. The rate increase have many people crying foul since originally BCBS had requested a 15.1% increase.
On Monday, Aetna announced that it would withdraw from 11 of the 15 state exchanges it currently participates in. Aetna claims it withdrawing due to higher than anticipated claims and mounting losses. They also voiced concerns about ‘structural problems’ with the exchanges.
