Aetna introduces new health plans, greater plan choice for employees
DENVER, September 12, 2006 — Aetna (NYSE: AET)
announced today a full scale return to the small business market in
Colorado. Building upon its acquisition of HMS Healthcare, through
which Aetna gained statewide network access, Aetna is introducing a
wealth of new health plan options with lenient participation
requirements, flexible pricing, and web-based information tools to help
members understand health care quality and cost so that they can make
wise and informed decisions as they spend their health care dollars.
"Aetna is a completely different company today than we were in
2001 when significant financial challenges caused us to bow out of the
small group market in Colorado," said Bill Berenson, Aetna’s Regional
Head of Sales for the North Central Region. "Five years later Aetna’s
new management has achieved one of the more remarkable turnarounds in
recent history. Through discipline and hard work, we are in a position
of strength to return. We appreciate the support we are receiving from
local brokers and agents who are searching for new alternatives for
their customers and have welcomed us back. We will prove that their
trust is well-founded."
"Aetna’s acquisition of the Sloan’s Lake physician network (part of HMS
Healthcare) is but one visible sign of our commitment to the Colorado
market," added Jeff Miller, Aetna’s Colorado Market Head. "Another
indication of just how competitive we intend to be lies in the fact we
have recently hired three new sales executives for our Colorado office.
Management will be Colorado-based as well in order to be easily
accessible to our customers and brokers and provide a localized touch."
Unique in the market, Aetna will introduce "Pick-a-Plan 3" giving
businesses with as few as 5 or more enrolled employees the opportunity
to offer their employees three different Aetna health plans from which
to choose. The loosened participation requirements will increase access
and affordability for small business, and give employees a range of
options so that they can select the one which best meets their
families’ individual health needs and financial goals. Aetna is also
introducing a "ValuePick" option which will loosen participation and
contribution requirements for employers who choose one or more of
Aetna’s Value Plans.
Aetna offers 13 health plans tailored specifically to small
business, including two high deductible plans that are compatible with
health savings accounts. In addition to consumer-directed plans, Aetna
offers open access managed care plans, state-mandated value plans and
traditional indemnity coverage. Aetna’s plans are designed for
affordability and to give employees options as they consider how much
to invest in monthly premiums versus out-of-pocket expenses. Annual
deductibles for in-network care range from $500 a year to $3,000 a year
depending on premium and benefit levels. Co-pays range from $15-$25 for
a primary care office visit, and $25 to $40 for specialist visit.
Annual premiums will vary depending on plan design. A three-tier
pharmacy benefit is included on all medical plans, and members can save
money on out-of-pocket prescription drug costs by using Aetna’s mail
order pharmacy. Aetna offers both PPO and HMO dental plans. Life and
disability coverage can be bundled together to give employers the
convenience of a single bill, or purchased separately.
About Aetna
Aetna is one of the nation’s leading diversified health care benefits
companies, serving approximately 29.9 million people with information
and resources to help them make better informed decisions about their
health care. Aetna offers a broad range of traditional and
consumer-directed health insurance products and related services,
including medical, pharmacy, dental, behavioral health, group life,
long-term care and disability plans, and medical management
capabilities. Our customers include employer groups, individuals,
college students, part-time and hourly workers, health plans and
government-sponsored plans.
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