Aetna's announcement on Tuesday that it expects to lose money on Obamacare's individual health-insurance exchanges and won't expand its participation next year makes a worrisome five for five: All of the biggest U.S. health insurers now expect such losses.
Aetna had previously expected to participate in five more state exchanges and at least break even on the Affordable Care Act this year. Its downgraded view comes on the heels of Anthem's revelation last week that it also no longer expects to break even or profit on Obamacare, along with a warning of "prudent" decisions about continued broad participation in the program.
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