Tens of thousands of Aetna members will likely be forced to find new health insurance next year if the company withdraws from New Jersey’s individual and small-group health insurance markets as planned, triggering what could be the largest single disruption in years.
The decision was prompted by losses in some product lines that reached $450 million nationwide in 2016, officials said. Also playing into the company’s decision: significant uncertainty about the future, as federal officials tinker with the Affordable Care Act in ways that some experts believe couldcertain insurance markets.
And some suggest that, with industry executives now struggling to decide what plans to offer in 2018, other insurance companies might soon follow suit. “We are certainly not the first payer to reduce our (individual market) presence and we likely won’t be the last,” said T.J. Crawford, Aetna senior director of media relations, speaking about the nationwide insurance landscape.