DENVER, Feb. 1 (UPI) -- U.S. insurance firm Aetna said Tuesday it was dropping individual health coverage in the state of Colorado.
Aetna said it would mail letters to individual health clients in the state that it was no longer signing new individual policies and would discontinue individual coverage in the state on Aug. 1, 2012, The Denver Post reported.
In a letter to the Colorado Insurance Division, Aetna attorney Mary Anderson said, "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. 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."
The Denver Post said Aetna covers 22,000 individuals in the state.