Aetna announces layoffs, blames ACA, puzzling

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Aetna has announced they will soon be laying off 80 CT workers, 160 nationwide. The company cited competitive pressures from the Affordable Care Act (ACA) in their decision, which is puzzling. The ACA legally requires Americans to buy their product, which should substantially improve their bottom line. Significant lobbying from the insurance industry into the law ensured that we would not have a competing public option to help reduce costs. It is also interesting that Aetna laid off more employees (100 in CT, 625 in the US) a month before the ACA passed. The economic downturn has hit CT hard, and the 80 innovation, technology, and customer service workers will be joining a growing number of unemployed CT residents. The laid off employees will receive nine weeks of pay and some are eligible for a severance package.