“Aetna Inc. posted a big net loss Tuesday, partly due to the failure of a long-term care insurer. The Hartford, Connecticut-based insurer is reporting $381 million in net losses for the first quarter on $15.2 billion in revenue, compared with $737 million in net income on $15.7 billion in revenue for the first quarter of 2016. . . . Aetna also recorded a $231 million charge related to its share of cost of dealing with the insolvency of Penn Treaty American Corp.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Ramifications ripple through the health insurance industry.
Humana Breakup, Penn Treaty Charge Hit Aetna Earnings