How Price Transparency Data Explains Aetna’s ACA Market Exit

Using standardized Transparency in Coverage data across 16 states, we analyze how Aetna’s negotiated Exchange rates, network expansion, and premium growth compared to peers like UnitedHealthcare and Cigna. The data show Aetna paying materially higher rates—particularly for inpatient services—placing it at a structural disadvantage in the price-sensitive ACA marketplace and helping explain its 2026 exit.