Aetna to exit California’s individual insurance market – Yahoo! News
(Reuters) – Aetna Inc said on Saturday it has notified California’s insurance regulator that it plans to stop selling health policies to individual consumers in the state at the end of 2013.
The company will continue to offer health insurance to employers and Medicare beneficiaries in California, as well as dental and life-insurance products, Aetna spokeswoman Anjie Coplin told Reuters. But people with individual health coverage with Aetna will have to find alternative coverage by year’s end.
…The move comes as California, the country’s most populous state, prepares for the fall launch of a state health exchange authorized by President Barack Obama‘s Affordable Care Act.
… Aetna says its decision will affect only 49,000 of its 1.5 million policyholders in the state.
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