Aetna is pulling back its engagement with state-based exchanges.
The Hartford insurer said that because of financial losses on Obamacare plans, it only will sell individual insurance on exchanges in four states next year.
This year, it’s been participating in 15. That will be scaled back to just Delaware, Iowa, Nebraska, and Virginia. It’s following the lead of United Health and Humana, which have already said they’ll scale back their exchange business.
Railroad Merger
Darien-based railroad company Genesee & Wyoming, which operates the Connecticut Southern Railroad and the New England Central Railroad, said it’s buying rival Providence & Worcester, which operates several freight lines in Connecticut.
The $126 million deal is expected to close by the end of this year.
Genesee & Wyoming said the acquisition will give it access to the port of New Haven, in addition to New London. It said it will be looking for savings by reducing overhead and operational costs after the merger.
Sikorsky Loses Presidential Repairs
Sikorsky may still build Marine One – but it will no longer be repairing the president’s helicopter fleet.
The Stratford based helicopter maker said that talks with the Navy over the repair contract have failed, and the work will now be moved in-house, to the Navy’s Fleet Readiness Center in Florida.
Sikorsky said the move affects about 85 workers in Stratford; it won’t yet say if people will be reassigned or whether there may be layoffs.
