Wednesday, January 22, 2014

Why Would a Savvy CEO Tweak the Obama Admin Over O-Care?

AETNA CEO Mark Bertolini gives a not so glowing review of ObamaCare.  It's shifted people around rather than turn the uninsured into the insured, and adverse selection is going to be a big problem.
CEO Mark Bertolini told CNBC on Wednesday that Obamacare has failed to attract the uninsured, and he offered a scenario in which the insurance company could be forced to pull out of program.
"Are they going to be double-digit [increases] or are we going to get beat up because they're double-digit or are we just going to have to pull out of the program?" Bertolini asked in a "Squawk Box" interview from the World Economic Forum in Davos, Switzerland. "Those questions can't be answered until we see the population we have today. And we really don't have a good view on that."

He said that so far, Obamacare has just shifted people who were insured in the individual market to the public exchanges where they could get a better deal on a subsidy for coverage. "We see only 11 percent of the population is actually people that were firmly uninsured that are now insured. So [it] didn't really eat into the uninsured population."
I suspect that Kathleen Sebelius and/or some of her thuggish minions will be giving Mr. Bertolini a call, and might even get a nice personal tax audit from the IRS.  'Don't be so cynical, you say?'  The WSJ has a story today on the thuggishness of mild-mannered-looking Turbo Tax Timmy.

Of course, no savvy CEO would ever stick his neck out like this and tweak a sensitive, defensive administration that has been known to resort to thuggish tactics.  There must be something to this. Maybe Mr. Bertolini is looking to get out of ObamaCare or looking to bait the administration into something.

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