· Aetna withdraws from Obamacare individual marketplace in Illinois. The withdrawal follows the financial failure of ACA cooperative Land of Lincoln Health, and leaves an increased number of Illinois counties where only one or two health insurance providers are willing to participate in the marketplace. Aetna announced its departure from marketplaces in Illinois and 10 other U.S. states on Tuesday, August 16. The withdrawal from the ACA insurance marketplace could affect as many as 838,000 exchange enrollees nationwide.
The financial failure or withdrawal of many insurance providers from ACA-related marketplaces nationwide has added to concerns about the challenges facing individual customers for U.S.-based health insurance plans. With competition substantially weakened or even absent in many American localities, many persons required by law to comply with the health insurance mandates of the federal ACA law many find themselves facing much higher prices for insurance policies. In many states, including Illinois, remaining health insurance care providers are demanding double-digit premium increases as a condition for meeting their fast-growing expenses and remaining as active suppliers to customers in health insurance markets.