Aetna pulls out of exchange

August 29, 2013

No. 3 U.S. health insurer Aetna (AET) said it's decided to not sell insurance on N.Y.'s individual health insurance exchange, part of the ObamaCare network. N.Y. is the 5th state where Aetna has pulled its application to sell the plans that go on sale on Oct. 1, and take effect on Jan. 1, '14. The insurer made the move after assessing its business strategy following its acquisition of Coventry Healthcare in May. Shares rose 1.5% to 63.76.