Speaking to investor analysts, CFO
"In many ways, it began to feel like this was getting worse, not better," he said. "If we had just held [our] ground, we could have easily doubled our exposure without even trying."
Aetna, expecting a
Guertin cited certain administrative costs and the risk pool, the balance between healthy participants and those who are sick and incur higher health care expenses, for Aetna's decision.
"All those holes in the system need to be plugged," he said.
Guertin said he's not optimistic about Affordable Care Act business.
"One of the things that has made this business difficult is not only the loss but the inability to predict and have insight into what's going to happen until it's right on top of you and I would say if you can't predict something you can't manage it," he said.
Guertin echoed arguments by Aetna Chief Executive Officer
Bertolini said market decisions, specifically the financial losses, were behind Aetna's decision.
Guertin also said Aetna is preparing its legal defense against the Obama administration's attempt to block its
"You can only feel so good, though, when you're potentially going to go to trial," he said. "We're actively preparing, obviously, our defense and have every intention to follow this all the way through."
Bertolini said the Aetna-Humana deal would strengthen local health insurance markets.
(c)2016 The Hartford Courant (Hartford, Conn.)
Visit The Hartford Courant (Hartford, Conn.) at www.courant.com
Distributed by Tribune Content Agency, LLC.