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Beat the System: Aetna, Obamacare and health insurers’ 10 dirty secrets

Whom do U.S. health insurers think they’re kidding?

The answer, of course, is: everybody.

Industry giant Aetna AET, +0.41% just said it is dropping most of its Obamacare plans. That follows similar moves by rivals. It’s dealt a serious blow to the Affordable Care Act and its goal of universal health care in America. Conservatives I know say they are celebrating — somewhat prematurely — “the death of Obamacare.”

Aetna cited losses on the plans as its reason. News reports since then say there’s another factor at play. The company may be engaging in political retaliation against the Obama administration for trying to block its merger with rival Humana HUM, +0.34%

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