Aetna bows out of New Jersey health insurance exchange

With less than two weeks until government-run insurance exchanges are required to go live, a large carrier has decided not to be part of another state online marketplace.

Aetna, which has pulled out of a number of state health exchanges along the East Coast, announced it will not be part of New Jersey’s online insurance exchange.
According to a report from CNN, an Aetna spokeswoman said, “We are not, and have not been a large player with a mature, robust presence to begin with in the individual market in New Jersey.”

Aetna has previously said it will not participate in exchanges in Georgia, Maryland, West Virginia, New York, or its home state of Connecticut. Coventry, which was recently acquired by Aetna, will not participate in those markets, as well.

After Coventry pulled out of the West Virginia exchange, it left Pittsburgh-based Highmark as the only health insurer offering subsidized plans on that state’s marketplace.

The Aetna spokeswoman said the company would not rule out entering exchanges in the Garden State or the other states in future years.
Aetna reportedly has 1.1 million customers in New Jersey.

UnitedHealthcare has announced that it will not participate in the New Jersey exchange, nor the Pennsylvania exchange.
Cigna has bowed out of exchanges in New Jersey and Pennsylvania, as well.

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