Aetna exits Obamacare in 11 of 15 states

Aetna announced that it is dropping Obamacare insurance due to heavy losses. The third largest health insurance company becomes the latest to pull back from the plans offered under he Affordable Care Act. The cuts affect 20% of Aetna's 838,000 Obamacare participants. Participants will be forced to sign up for other Obamacare plans or purchase individual insurance outside of the exchanges once open enrollment begins later this year. Experts are forecasting that the premium for an average plan - the lowest-cost medium-benefits option for a 40 year old nonsmoker is expected to rise by 9% in 2017. The insurer blamed heavy losses and suggested too many sick people are buying plans and not enough healthy people are paying premiums.