Aetna CEO Mark Bertolini Talks Advantage Medicare Growth

President, chairman and CEO of Aetna

Mark Bertolini commented on their

Medicare Advantage and it's growth across the country on CNBC's Squawk Box Wednesday morning. According to Bertolini, “Medicare Advantage is too big now,” a perception that some policy makers agree with, which is his reasoning for rate increases and attempts to crush Medicare contracted plans altogether. “We had a lot more Medicare enrollment than we even anticipated,” said Bertolini in regards to their revenue number, going on to say that it's too early to raise the earnings target until they know more information about the ages and needs of the enrollees.

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As Medicare revenue rises nationwide, Aetna's Medicare Advantage, which utilizes Medicare to provide patients with Part A and Part B benefits, is something that Bertolini sees as attractive to recent retirees. He noted the overall market's 1.5 percent increase. “People retiring now are more than likely to pick a Medicare Advantage plan because they're used to working with managed-care plans, they're used to those kinds of networks,” said Bertolini. “Versus people that are over 70, who you know, hold onto that red, white, and blue card with, you know, for dear life.”