By the numbers:Petersen HealthCare: Is it too early to call it the Affordable Health Care Act?
Petersen health, care and life sciences CEO David Petersen announced on Twitter Friday that the health insurance company would shut down and lay off nearly 300 people.
The news comes just weeks after the company announced that it would lay off 2,000 employees in an effort to reduce the number of uninsured people it treats.
Petersen had said the cuts were necessary to comply with the Affordable Healthcare Act.
Peterson said in a statement that the company was “deeply saddened” by the news and said it would “focus on our most important mission, to deliver care to people that are as sick and healthy as they can be.”
“It is important to understand that we are committed to treating everyone equally under the law,” the statement said.
“The decision to lay off more than 300 workers is in the best interests of all of us.”
Petersen said it had a plan to hire at least 2,500 workers in 2018, but that would have been a difficult process because of the massive growth of the health care industry.
Peteson said that the cuts will affect more than 2,100 employees who are part of its health care and care-related industries, including medical technology and pharmacy, pharmacy, and pharmacy-related services.
The company said it will hire more than 400 people in its pharmacy-affiliated healthcare operations, which are primarily in areas where the Affordable Act has made the health system easier to access.
Petners new CEO, Petersen said in the statement, will work closely with the President, Secretary of Labor, and Secretary of Health and Human Services.
“We will make every effort to meet the requirements of the Affordable care Act and the health law’s mandates,” the company said.
The cuts come as the Trump administration is looking to slash federal spending and the number in the U.S. health care system.
The president has proposed cutting $100 billion from the Medicaid budget and spending $300 billion on new programs to help the elderly, the disabled and children.
The Trump administration has also proposed slashing funding for Medicare, which provides health insurance to nearly half the population.