Many Americans can't afford Obamacare: Aetna CEO
"If we're going to fix health care, we've got to get at the delivery of care and the cost of care," Bertolini said in a "Squawk Box" interview. "The ACA does none of that. The only person who's really going to drive that is the consumer and the decisions they make."
"Getting everybody insured should probably be our goal, but you have to have a more affordable system," he added. "We have a 1950[-style] health care system in the Unites States."
..."We have 600,000 ... customers as a result of the Affordable Care Act," Bertolini said. "We do know they are sicker. We know 87 percent are subsidized. We know they are older. So we expect they are going to use more health care."
"We priced this [Obamacare] business at lower margins in the 3 percent to 5 percent range … but we didn't plan or expect earnings as a result of those populations," he explained.
Hopefully Lois Lerner didn't catch this segment, otherwise Bertolini could be in for some very rough times ahead.
Hat tip: BadBlue Money.