Yesterday on CNBC, Aetna CEO Mark Bertolini said that health insurance premiums could as much as double if Obamacare comes into full effect:

To provide all Americans with health insurance, premiums will have to rise to pay for it, Aetna CEO Mark Bertolini told CNBC’s “Closing Bell” on Wednesday.

“If we’re going to insure all Americans, which is a worthy and appropriate cause, then somebody has to pay for it,” Bertolini said of the expected premium increases under Obamacare.

Bertolini said that insurance premiums could double in some places just on the basis of what types of policies people buy today.

Anticipating a criticism, Bertolini said that higher premiums wouldn’t mean higher profit margins for insurance companies. The reason is that it will actually be more expensive to insure people due to some of the Obamacare mandates.

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