Jbird
Kick Henry Jackassowski
Wouldn't Aetna, in that situation, just charge so much for their version of coverage that no one would actually buy it? And then say "See? We are participating!"In the Swiss system, which the ACA is based on, companies that choose not to participate in the system are not allowed to conduct any business in Switzerland. They can't sell insurance, bank, invest, or even move money through Switzerland. The problem with the ACA is that the government involved the insurance companies in writing the law, rather then telling the insurance companies how they had to perform to participate. I can guarantee that if the Virginia AG told Aetna they can't do any business in VA of any kind they would probably change their decision very fast. Now imagine the federal government telling Aetna that their pullout from Virginia makes them a non-entity in the US insurance and financial markets. Participate or cease all business operations in the United States; those are the two options you have. Want to guess how fast Aetna would fold? You think they are going to sell health insurance in the rest of the developed world where there isn't much of a market for private coverage? This is how it works in Switzerland. Participate or you can't play ball. I guarantee the Swiss companies are still making a nice profit, as they are lining up to compete for my business.
Or do the Swiss have laws for that, too? I don't know, I'm genuinely asking.