Aetna CEO and chairman Mark Bertolini, appearing on CNBC’s Squawk Box to discuss the impact of Obamacare on his company, said, “The numbers were worse than we expected.”
“We do see the demographics skewing a little older, a little sicker,” Bertolini revealed.
“Are these profitable customers?” the host asked of Obamacare enrollees.
“We don’t know yet,” Bertolini replied. “We don’t know what their margins are. We know they are sicker, we know 87 percent of them are subsidized, we know they are older, so we expect that they’re going to use more healthcare.”
Although he expressed confidence their premiums should cover these expenses, “We don’t expect the margins to be what our traditional margins are.”