The following article was pulled from the Associated Press…..
DENVER – Aetna will stop selling new health insurance to small groups in Colorado and move companies that are existing clients off the plan in the next year, affecting 1,200 companies and 5,200 employees and their dependents.
The state Division of Insurance confirmed Aetna’s plans, although the insurance giant said it was not planning to notify policyholders until Friday.
“After reviewing our portfolio of small-group products, we have identified Colorado as a market where we feel we can no longer meet the needs of our customers while remaining competitive,” regional Aetna spokeswoman Anjie Coplin said.
Aetna is staying in the individual and large-group markets in Colorado.
State insurance officials said they believe the 1,200 companies affected by Aetna’s decision to leave the small- group market will be able to purchase coverage from other insurers.
This is not significant when you look at the small number of insureds that Aetna had in the marketplace. I would compare it to “arena football leaving Denver” the market is so small, some people didn’t even realize we ever even had a team.