Insurance company Aetna announced that it expects to continue offering health plans through the federal exchanges in 15 states, and is looking into expanding into other states as well.
The insurer’s announcement comes as competitors UnitedHealth and Humana declared their withdrawal from a number of health exchanges across the country—both companies have cited losses as the reason for their exit.
Other major insurers participating in the federal exchange markets are also sticking around, such as Anthem. Anthem is expecting to make a narrow profit on ACA plans this year despite being short of the company’s target margins, reported The Wall Street Journal.
Aetna is anticipating breaking even on the exchanges this year.
During the company’s first quarter earnings call, Aetna Chief Executive Mark T. Bertolini told analysts that the insurer considered its position in the ACA marketplaces as a “good investment.” Bertolini also commented that changes to the ACA should be made in order to make conditions more sustainable for the company.
Aetna is in the process of acquiring Humana, with the deal currently under review by regulators.
The insurers remaining on the federal healthcare exchanges are expected to increase their rates for next year in an effort to improve profitability.
The company is looking into offering healthcare exchange plans in states it has yet to open shop in.
“[We have] preserved our options to enter certain new geographies pending careful evaluation of marketplace conditions,” said Aetna spokesman T.J. Crawford.
Aetna informed Oklahoma’s state regulator that it has plans to sell exchange plans in the state in 2017.
While the company has plans for expansion, Aetna noted that the scope of its growth will not be finalized until September this year.
“[Aetna has] not made any final decisions on where we might enter new Affordable Care Act states,” Crawford said.
