Insurance giant Aetna is pulling out of the individual market in Colorado.
“Aetna Life Insurance Company has determined it can no longer meet the needs of its consumers while remaining competitive in the Colorado individual health market,” Mary Anderson, a counsel to Aetna, wrote in a letter dated Dec. 21 to the Colorado Insurance Division. “As a result, please consider this letter as formal notification that Aetna will stop offering and will withdraw its policies from the Colorado market effective February 1, 2011.”
Aetna, which covers 22,000 individuals in Colorado, was to mail letters Tuesday notifying customers of the change, the letter said. The company will end coverage under existing individual health policies and will no longer have any individual health policies as of Aug. 1, 2012.
In 2010, Aetna stopped offering new coverage in Colorado for child-only and small group policies. Margaret Jackson and Michael Booth, The Denver Post
