June 11, 2014 / 5:30 PM / in 4 years

Aetna CEO says 2015 Obamacare rates increase less than 20 pct

June 11 (Reuters) - Health insurer Aetna Inc is submitting premium rates to regulators for 2015 Obamacare insurance plans that generally increase less than 20 percent from 2014, Chief Executive Officer Mark Bertolini said on Wednesday.

Speaking during a Goldman Sachs healthcare conference outside Los Angeles, Bertolini said that about half of the rate increases that the insurer has submitted are related to changes since the creation of the Affordable Care Act, often called Obamacare.

In the past year, President Barack Obama’s administration has made changes to the law, such as allowing some plans that had been due to phase out this year to remain in place. That has changed some of the information used to set premium rates.

The comments were similar to expectations that Bertolini had laid out in April when announcing the company’s first quarter earnings report.

Bertolini said that customers are disenrolling from exchange plans on a regular basis but that the company still expects to have 450,000 exchange customers at year end. He said that while he did not know the reason for these customers leaving, he suspected that it was due to the out-of-pocket costs before members reach their deductibles. (Reporting by Caroline Humer; Editing by Chris Reese)

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