Judge: Aetna lied about quitting Obamacare

christiefan915

christiefan915

Catalyst
Contributor
Now I'll question any insurance company that claims it's losing money over Obamacare.

"A federal judge has ruled that Aetna wasn't being truthful when the health insurer said last summer that its decision to pull out of most Obamacare exchanges was strictly a business decision triggered by mounting losses.

U.S. District Judge John Bates concluded this week that Aetna's real motivation for dropping Obamacare coverage in several states was "specifically to evade judicial scrutiny" over its merger with Humana. Aetna pulled out of Obamacare exchanges in 11 states last August, including 17 counties in Florida, Georgia and Missouri where the Department of Justice argued the merger would wipe out competition.

That decision to retreat from Obamacare came just a month after the Department of Justice blocked Aetna's $34 billion merger with Humana on antitrust grounds. But Bates said this week the DOJ presented "persuasive support" -- including internal Aetna emails -- for the conclusion that Aetna (AET) withdrew from the Obamacare exchanges in those counties "to improve its litigation position."

"The Court does not credit the minimal efforts of Aetna executives to claim otherwise," Bates wrote in a ruling following a trial over the merger. He added that Aetna's decision regarding participation in the 2017 exchanges in these counties was "in fact manipulated."

http://money.cnn.com/2017/01/24/investing/aetna-obamacare-humana-merger/
 
christiefan915 said:
What do you mean "let's say its true"? It is true.

I don't know what they can do, maybe a big fine.
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you dont know if it will hold. Its a court thing so it will prolly be appealed.

a fine for what though? Regardless of motivation can they force a business to continue when it no longer wants to?
 
tsuke said:
you dont know if it will hold. Its a court thing so it will prolly be appealed.

a fine for what though? Regardless of motivation can they force a business to continue when it no longer wants to?
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Their merger with Humana has been blocked so there's that.
 
christiefan915 said:
Now I'll question any insurance company that claims it's losing money over Obamacare.

"A federal judge has ruled that Aetna wasn't being truthful when the health insurer said last summer that its decision to pull out of most Obamacare exchanges was strictly a business decision triggered by mounting losses.

U.S. District Judge John Bates concluded this week that Aetna's real motivation for dropping Obamacare coverage in several states was "specifically to evade judicial scrutiny" over its merger with Humana. Aetna pulled out of Obamacare exchanges in 11 states last August, including 17 counties in Florida, Georgia and Missouri where the Department of Justice argued the merger would wipe out competition.

That decision to retreat from Obamacare came just a month after the Department of Justice blocked Aetna's $34 billion merger with Humana on antitrust grounds. But Bates said this week the DOJ presented "persuasive support" -- including internal Aetna emails -- for the conclusion that Aetna (AET) withdrew from the Obamacare exchanges in those counties "to improve its litigation position."

"The Court does not credit the minimal efforts of Aetna executives to claim otherwise," Bates wrote in a ruling following a trial over the merger. He added that Aetna's decision regarding participation in the 2017 exchanges in these counties was "in fact manipulated."

http://money.cnn.com/2017/01/24/investing/aetna-obamacare-humana-merger/
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Aetna has the right to quit before it goes bankrupt and all of it's employees are jobless. And u r an idiot
 
http://www.weeklystandard.com/insur...ubled-since-obama-was-elected/article/2005073

In 2008, the year that Barack Obama was elected as president, the combined annual profits of America's ten largest health insurance companies were $8 billion. Under Obamacare, the ten largest health insurers' annual profits have risen to $15 billion. This is another fine example of the natural alliance between Big Government and Big Business, which flourishes at the expense of Main Street Americans.

Meanwhile, the real median American household income in November of 2008, when Election Day hit in the middle of the recession, was $57,899. By December of 2015—six and a half years after the recession ended—it had actually dropped, to $57,701. So far this year (as of August), it has dropped another $321, to $57,380.
 
Trump-Forever said:
Aetna has the right to quit before it goes bankrupt and all of it's employees are jobless. And u r an idiot
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First they're not going bankrupt. Second, they lied and hid it. Third, they got caught.

I'm not surprised you support Aetna lies, given you support trump lies 110%.
 
christiefan915 said:
First they're not going bankrupt. Second, they lied and hid it. Third, they got caught.

I'm not surprised you support Aetna lies, given you support trump lies 110%.
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he supports their right to withdraw from a marketplace. I do too.

This may sound wierd but I also recognize the right of businesses to outsource. Its up to the government and the people to punish them for it or incentivize them away from it.
 
christiefan915 said:
The courts feel differently. It's obvious you have no clue what this is about.
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its not necessarily a lie. Our stupid corporate culture nowadays requires every department to turn a profit. Even fffin customer service. If that part of their company was unprofitable they would axe it. There may be other concerns as well but the fact that that particular departmet wasnt making money would be one of it.
 
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