Author Box
Articles Categories
All Categories
Articles Resources

Health Insurers Face Extinction, Aetna CEO Says

February 27, 2012 | Comments: 0 | Views: 113

At a recent conference in Las Vegas, Aetna CEO, Mark Betolini, made a statement "The system doesn't work, it's broke today" along side with "Reform is not going to stop. It won't go away". Could be a sign that Healthcare Reform had made an impact that is here to stay.

This is almost like the impact the dinosaurs had when an asteroid collided into the earth. Maybe the health insurance companies are working in the land before there was time. Now, it could be just a matter of time before only a few will actually survive. In the state of Iowa, as of 4Qtr of 2011, 13 carriers had left the Iowa market, leaving only 22 carriers to spare. This equates to about one carrier every month exiting the market. Indiana had nearly 10 percent of their health carriers exit the market. It is possible that other states could have more carriers that already exited the health insurance market. This helps in moving one step closer to extinction.

One of the promises made by President Obama to the American people before the health overhaul law was passed in 2010 was "If you like your health care plan, you will be able to keep your health care plan. Period. No one will take it away. No matter what." The law is not even in full effect until 2014 and many carriers are dropping out of the market. This is causing millions of people to lose their current coverage. The industry may hold an instinct that says there is more to come.

Before healthcare reform there were already hundreds of mandates an insurance company must obey in order to sell insurance. The healthcare bill added at least dozens more mandates. Some carriers are leaving because they can't take on any more mandates. Other carriers have had a financial impact somehow. In either case, health insurers may be laying to rest, in a box with a flower in their hand six feet under.

As we move into uncharted waters, stay close to a reputable health insurance agent. Your close contact could save you problems as we move ahead into healthcare reform. Although full implementation will not be complete until 2014, many of the mandates and so called benefits have already been added to policies written and issued after March 23, 2010. Having knowledge of what the policy currently in force will only benefit at claim time.

Arthur "Butch" Zemar is an insurance specialist and author at Elite Benefits of America. Elite Benefits of America are insurance Gurus to handle the details about insurance so business owners can focus on their passion. For more information please visit

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

Health Insurance


Health Insurers


Health Insurance Companies


Reputable Health Insurance

Auto insurance is probably one of the most expensive insurance types in Canada. An average car insurance policy in Canada costs approximately $1,200 per year and in Ontario, the largest Canadian

By: Alex Saltykov l Insurance > Car Auto l July 09, 2013 lViews: 552

Your house is often your largest investment that you need to protect via insurance. We created a list of multiple savings tips related to Home insurance and hope that these will help you to save a

By: Alex Saltykov l Insurance > Home Owners Renters l December 27, 2012 lViews: 379

Most auto insurance companies design specific car insurance policies for classic and antique cars. If you think you have a classic car and want classic car insurance, you will need to be sure that

By: Richard l Insurance > Car Auto l October 17, 2012 lViews: 570

Business Overhead Expense Insurance Plans can provide cash flow to the business in the event of a disability to a key employee or owner. For a small, growing company it might make the difference

By: T. Spencer White l Insurance > Disability l July 17, 2012 lViews: 242

Workers compensation costs are rising. According to a recent report by the Workers Compensation Research Institute (WCRI), indemnity costs per claim (the loss of earning capacity, payments for lost

By: Kelly C. Williams l Insurance > Workers Compensation l July 08, 2012 lViews: 220

One of the most helpful government programs out there is the SSI Disability program. A person that is legitimately disabled, and cannot work to provide an income for themselves for their family

By: Oleg Winter-Burnett l Insurance > Disability l July 04, 2012 lViews: 281

Once you approach 65, you will be entitled to Medicare, but that does not mean that you will certainly be completely protected in case something happen to you. Lots of people make that error and they

By: Roderick F McGoughl Insurance > Healthl June 05, 2012 lViews: 169

Plenty of people assume that when you approach the magic age of 65, everything will be easy. You will receive an impressive huge check from Social Security and all of your medical treatment

By: Roderick F McGoughl Insurance > Healthl June 05, 2012 lViews: 171

Once you turn 65, you will find that it is important to start researching a Medicare Part D plan. While this is part of the Medicare program, in several ways it is absolutely different as the only

By: Roderick F McGoughl Insurance > Healthl June 05, 2012 lViews: 173

Once you turn 65, you will have a loads of paperwork to accomplish. You might be retiring from your employment, and you may also need to communicate with Social Security who will start mailing you

By: Roderick F McGoughl Insurance > Healthl June 05, 2012 lViews: 170

If you know somebody who has stayed inside the medical center for an extended period of time, you must inquire them what their expense was. They may perhaps tell you several unbelievable numbers that

By: Roderick F McGoughl Insurance > Healthl June 05, 2012 lViews: 178

When you begin to get close to the age of 65, you may be unhappy about your growing years, but there are some good benefits waiting for you. You have been working your entire lifetime in order to get

By: Roderick F McGoughl Insurance > Healthl June 05, 2012 lViews: 167

Life takes a toll and moves at the speed of light. Over time we focus on priorities that are more immediate than others. With certain things, since there is no immediate pain, we tend to put off

By: Butch Zemarl Insurance > Disabilityl June 27, 2012 lViews: 153

Tec 40, is more or less, a basic introduction to deeper diving by actually applying basic skills to the real environment. I think it is worth repeating... take the basic fundamentals, or skills, of

By: Butch Zemarl Recreation & Sports > Scuba Divingl May 06, 2012 lViews: 125

Aggressively you swim from the top of the coral reef to the bottom and back to the top just trying to see in every nick and cranny. Then all of a sudden you realize your dive is done with plenty of

By: Butch Zemarl Recreation & Sports > Scuba Divingl February 28, 2012 lViews: 131