Aetna confirms New York exchange exit
By Allison Bell
Aetna Inc. has made its decision to stay out of the New York state public exchange in 2014 official.
The company has put out a statement confirming its withdrawal from the Empire State's exchange program.
Aetna will continue to sell small-group, large-group and individual exchange products outside of the state's exchange market, the company said.
"We will look to expand our presence," Aetna said.
Aetna earlier announced decisions to stay out of the 2014 public exchange plan menus in Georgia, Maryland, Ohio and its home state of Connecticut.
New York state left the company out of a list of exchange plan issuers it released earlier this month.
Aetna filed several exchange participation applications in April. Since then, Aetna decided to participate in the exchanges in which it believes it can be most competitive, the company said.
"We believe it is critical that our plans not only be competitive, but also financially viable," Aetna said.
Originally published on BenefitsPro.com