Aetna CEO: Premiums Will Double In Some Places Because Of Health Care Reform

By MATTHEW STURDEVANT, msturdevant@courant.com

The Hartford Courant

11:32 AM EST, December 13, 2012


Aetna's CEO Mark T. Bertolini said the Affordable Care Act will increase health insurance premiums by 100 percent, doubling the price in some markets, according to a Bloomberg report.

Bertolini said at an investor conference Wednesday in New York: "We've shared it all with the people in Washington and I think it's a big concern. We're going to see some markets go up as much as 100 percent," according to Bloomberg.

He made similar comments in June after the U.S. Supreme Court upheld the law. Here's what I wrote for the June 29 edition of The Hartford Courant:

Half of Americans have health plans that don't include all the perks mandated by the federal government and called "essential benefits," Aetna's Chairman and CEO Mark T. Bertolini said Thursday on CNBC.

"This bill was not written well, and as a result, we have a number of things that will drive up premiums much more significantly than the average cost of healthcare," Bertolini said.

The law requires young, healthy people to pay more for health insurance than they would without the law, Bertolini said. The law broadens age ranges, lumping together larger groups of people and driving up premiums for younger people in order to lower premiums for older people.

"Until we get other underlying costs out of the system, the near-term effects of this bill will be much higher premiums in 2014 and 2015," Bertolini said on CNBC.