Has Obamacare's Harshest Critic Changed His Tune?
Aetna's CEO Mark Bertolini has been one of Obamacare's harshest -- or at least one of its most publicly harsh -- critics in the insurance world. Ever since reporting Aetna's first quarter 2014 earnings, though, he seems to have changed his tune. In an interview with Bloomberg, he even said that it's "too early" to know whether Obamacare is working -- a marked change from his past statements.
Part of his seeming change of heart may be related to the 450,000 new members that Aetna anticipates adding in 2014 thanks to Obamacare. While Aetna anticipates that the membership will be a "modest headwind" to profitability, management is guiding that they will continue to participate in the exchanges. Aetna currently competes in 17 state exchanges, and intends to retain that footprint, a marked shift from past public statements by Bertolini that Aetna might have to leave the exchanges.
In this video from Friday's Market Checkup, Motley Fool health care analysts Michael Douglass and David Williamson break down Aetna's Obamacare exposure and Mark Bertolini's change in tone.
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The article Has Obamacare's Harshest Critic Changed His Tune? originally appeared on Fool.com.David Williamson owns shares of UnitedHealth Group. Michael Douglass has no position in any stocks mentioned. The Motley Fool recommends UnitedHealth Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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