Showing posts with label Aetna. Show all posts
Showing posts with label Aetna. Show all posts

Tuesday, October 15, 2013

Aetna Announces Major Expansion Of Medicare Advantage Network

by MATTHEW STURDEVANT
Aetna is expanding its network of doctors to treat Medicare Advantage customers into new territory, growing its geographic reach and physician base in 22 states, including Connecticut.
The expansion applies to more than 450,000 people in the U.S. who have Aetna’s employer-sponsored Medicare Advantage group health plans, which some businesses offer to their retirees. Aetna also has about 480,000 customers in its individually sold Medicare Advantage plans, for which there will be a network change announced in the near future, the company said.
Aetna and other health insurers have made major investments in recent years to bolster their services for Baby Boomers, who are increasingly reaching the Medicare eligibility age of 65.
The announcement Monday comes less than two weeks after one of Aetna’s major competitors, UnitedHealthcare, sent notices to Connecticut doctors saying they have been cut from the company’s Medicare Advantage network for next year. A UnitedHealthcare spokesman on Friday said the network cuts will “ultimately provide better outcomes for people in Connecticut while we and others manage through the severe government funding cuts in Medicare Advantage.”
Aetna said it is growing its network of doctors by 59 percent next year and expanding its territory from 442 counties to 703.
The expanded territory includes 87 additional counties in Texas — about one third of the state’s total. Aetna is broadening its Medicare Advantage reach by 49 counties in Indiana; 43 counties in Georgia; and 22 counties in Illinois.
The Hartford health insurer also is adding doctors to its networks in Arizona, Connecticut, Kentucky, Maine, Maryland, Michigan, Missouri, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington and Wisconsin.
“We’re very excited about this network expansion, which is one of our biggest ever,” Nancy Cocozza, president of Medicare Business for Aetna, said in a prepared statement. “Strengthening our network in group Medicare is important as it enables nationwide coverage for large, national employers, and it lets retirees continue receiving care from doctors they used and trusted while they were employed.”
The open enrollment period for Medicare plans starts Tuesday and ends Dec. 7. In addition to Medicare Advantage, Aetna has about 341,000 customers of its Medicare Supplement plans. Separately, the insurer also sells stand-alone prescription drug plans to Medicare-aged customers.
Medicare is federal government-funded health insurance primarily for people 65 and older. Medicare Advantage is a version of Medicare Parts A and B, hospital and medical coverage, administered by private insurers. The insurers are paid by the federal government to provide coverage. Often, private insurers compete for market share by offering additional benefits, such as discounts on dental coverage, eyewear or hearing-aid services, in addition to exercise programs or gym memberships.
UnitedHealthcare Cuts Back
Last week, the Fairfield County Medical Association said doctors were calling the organization to say they received letters notifying they had been cut from UnitedHealthcare’s network. The association says UnitedHealthcare is cutting 810 primary care physicians and 1,440 specialists. The insurer declined to say how many doctors have been cut, but UnitedHealthcare has said it will have an adequate network that includes more than 1,500 primary care physicians and more than 4,000 specialists.
UnitedHealthcare’s decision drew criticism from the Connecticut State Medical Society, American Medical Association, U.S. Sen. Richard Blumenthal, D-CT, and U.S. Rep. Joe Courtney, D-2ndDistrict. State Attorney General George Jepsen inquired on Friday about the matter, though Jepsen’s  spokeswoman said Medicare Advantage is a federally regulated matter.
Many of the questions about UnitedHealthcare’s decision to cut its network can only be answered by the federal Centers for Medicare & Medicaid Services, which manages Medicare Advantage. However, a federal government shutdown has left most of the federal Medicare employees furloughed.

Monday, October 7, 2013

Strategic Acquisitions, Charitable Grants, and Improved and Expanded Quality Health Care Services

  Research Report on Tenet Healthcare, Aetna, Cigna, WellCare, and Health Net

Published: Monday, Oct. 7, 2013 - 5:15 am
/PRNewswire/ --
Today, Analysts' Corner announced new research reports highlighting Tenet Healthcare Corp. (NYSE: THC), Aetna Inc. (NYSE: AET), Cigna Corp. (NYSE: CI), WellCare Health Plans, Inc. (NYSE: WCG), and Health Net, Inc. (NYSE: HNT). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Tenet Healthcare Corp. Research Report
On October 1, 2013, Tenet Healthcare Corp. (Tenet Healthcare) announced that it has completed the acquisition of Vanguard Health Systems, Inc. for c.$4.3 billion, or $21.00 per share of Vanguard stock, including the assumption of $2.5 billion of net Vanguard debt. "Through this acquisition, we have significantly increased our scale and expanded the services we offer," said Trevor Fetter, Tenet's President and CEO. "We intend to be a leader in addressing the opportunities in our healthcare system, and we are strongly positioned to drive improvements in quality and value for the millions of people to whom we provide care." The Company informed that Vanguard Health Systems (NYSE:VHS) has ceased trading on the New York Stock Exchange as a result of the closing of this acquisition. The Full Research Report on Tenet Healthcare Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/1d25_THC]
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Aetna Inc. Research Report
On October 1, 2013, Aetna Inc. (Aetna) announced a partnership with the Junior Blind of America, a nonprofit organization dedicated to helping children and adults who are blind, visually impaired or multi-disabled achieve independence. The Company said that the Aetna foundation will award the non-profit organization a $25,000 grant at the organization's annual Children's Halloween Carnival, to be held on October 26, 2013. The funding will allow Junior Blind to offer its healthy living after school program free of charge to both sighted and visually impaired children from low-income families. Commenting on the grant, Garth Graham, M.D., M.P.H., President of the Aetna Foundation said, "We are pleased to support Junior Blind's After School Enrichment Program and help kids in South Los Angeles establish healthy habits at a young age, especially those who have an elevated risk of being overweight or obese." The Full Research Report on Aetna Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/cbe9_AET]
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Cigna Corp. Research Report
On October 1, 2013, Cigna Corp. (Cigna) announced the expansion of its Medicare offerings for 2014 Annual Enrollment to serve the growing aging population. The Company' informed that its 2014 Medicare offerings will include a wide range of health and prescription drug plans, as well as supplemental and special needs plans. It further informed that all plans offer extra benefits not covered under Original Medicare and are designed to help customers better manage their health and limit out-of-pocket medical expenses. Herb Fritch, President of Cigna-HealthSpring, Cigna's seniors business unit said, "Our coordinated team approach to care focuses on prevention to proactively meet each person's health care needs and deliver on the triple aim of improved health, affordability and patient experience." The Full Research Report on Cigna Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/7307_CI]
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WellCare Health Plans, Inc. Research Report
On October 2, 2013, WellCare Health Plans, Inc. (WellCare) announced the expansion of itsMedicare Advantage service area with the addition of eight new counties across three states to its 2014 Medicare Advantage service area. With these new additions, WellCare stated that it will offer Medicare Advantage plans in 210 counties in 14 states. Medicare's open enrollment period begins on October 15, 2013 and ends on December 7, 2013. The Company informed that when the open enrollment begins, eligible seniors in Arizona's La Paz, Maricopa and Pima counties; California's Fresno County; and Kentucky's Bullitt, Carroll, Gallatin and Owen counties will be able to select WellCare as their Medicare Advantage plan. The Full Research Report on WellCare Health Plans, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/be48_WCG]
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Health Net, Inc. Research Report
On October 1, 2013, Health Net Inc. (Health net) announced that two of its subsidiaries, Health Net of Arizona, Inc., and Health Net Life Insurance Company are now offering qualified health plans on Arizona's health insurance exchange. "We are committed to providing products and services that are affordable, simple, dependable and local," said Rose Megian, President and CEO of Health Net of Arizona. "And we expect Arizonans will find our coverage to be competitively priced." According to the Company, Health Net's qualified health plans for individuals and their family members, as well as for eligible small businesses, are offered in all 15 Arizona counties through the exchange. The Full Research Report on Health Net, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/6995_HNT]



Read more here: http://www.sacbee.com/2013/10/07/5800574/strategic-acquisitions-charitable.html#storylink=cphttp://www.sacbee.com/2013/10/07/5800574/strategic-acquisitions-charitable.html

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Thursday, October 3, 2013

Health Alliance bypassed for Medicare Advantage contracts

Thousands of retired state workers in the Springfield area would lose coverage from Health Alliance Medical Plans based on contract decisions announced by the state this week, but those retirees would be able to keep their Springfield Clinic doctors.
“Those members would still have a medical home at Springfield Clinic,” Mark Kuhn, chief administrative officer at the Springfield-based multi-specialty group, said Wednesday.
The Illinois Department of Central Management Services on Tuesday announced the selection of four contracts for Medicare Advantage plans that will serve 123,000 retirees statewide, most of them 65 or older.
Urbana-based Health Alliance was among the bidders but wasn’t selected for what could end as 10-year contracts worth a total of almost $4.2 billion.
The company is considering whether to appeal the decision within administrative channels, according to Health Alliance senior vice president Jane Hayes.
Health Alliance was “surprised and disappointed” by the state’s decision, she said. “We’re looking at our options.”              
Health Alliance serves 15,000 Medicare-eligible state retirees affected by the new contracts. Several thousand of those retirees live in the Springfield area, and many of them use Springfield Clinic doctors through different contracts with the state.
Kuhn said those retirees will be able to continue with Springfield Clinic doctors because the clinic is part of the Humana and Aetna networks offered by companies that won contracts this week for coverage that begins Jan. 1.
The plans include a health-maintenance organization plan from Aetna Life Insurance Co., an HMO plan from Humana Health Plan, an HMO plan offered by Humana Benefit Plan, and a preferred-provider plan offered by UnitedHealthcare.
Currently, Medicare-eligible state retirees have about 80 percent of their health-care costs paid by the federal Medicare program. The remaining 20 percent is covered by one of the health insurance plans offered to active workers.
Offering this type of Medicare supplement coverage through standard insurance plans is costly, according to CMS officials who have said the state could save more than $100 million annually by switching these retirees to Medicare Advantage plans.
With Medicare Advantage, Medicare benefits are provided by a private insurance company rather than the federal government. The insurer receives a stipend from the federal government for providing the benefits.
Health Alliance’s exclusion from the state’s new Medicare Advantage contracts appears to be a more significant issue for patients in the Champaign-Urbana area. That’s because about 6,000 retirees in that area who receive their care through the Carle health system may have to change doctors.
The Carle doctors aren’t included in any of the Medicare Advantage networks of the companies awarded contracts, Hayes said.
Health Alliance’s Medicare plans have been rated among the top in the state by the National Committee for Quality Assurance, she said.


Read more: http://www.sj-r.com/breaking/x452546743/Health-Alliance-bypassed-for-Medicare-Advantage-contracts#ixzz2gflBWYfj

Aetna Inc : Innovation Health Approved to Offer Health Insurance Plans in Virginia



10/03/2013 | 08:33am US/Eastern
Innovation Health Insurance Company and Innovation Health Plan Inc. ("Innovation Health"), the result of a partnership between Aetna and Inova, have received approval from the Virginia Bureau of Insurance to begin offering health insurance and HMO plans to employer groups of two or more members.
Aetna and Inova announced their collaboration and the formation of Innovation Health in May 2012, joining forces in a new way to deliver and finance more affordable, quality health care for employers and residents in Northern Virginia.
"We're excited to bring Innovation Health products to the Northern Virginia marketplace. Our goal when we formed Innovation Health was to demonstrate that an insurance company and a health care system, working together, can dramatically improve the quality and delivery of patient care while also reducing the costs associated with that care," said Tom Grote, Aetna's president for Virginia, Maryland and Washington, D.C. "With these approvals, we're ready to take the next step."
Innovation Health will offer fully insured and self-insured group products beginning with effective dates of Oct. 1, 2013. Plans will be available to businesses whose employees primarily are located in Alexandria City, Arlington, Fairfax, Fairfax City, Falls Church City, Fredericksburg City, Loudoun, Manassas City, Manassas Park City, Prince William, Spotsylvania and Stafford. Innovation Health plans also will be offered to individuals both on and off Virginia's health care exchange. For more information, see www.innovation-health.com.
"These plans offer superior health care advantages, including clinical integration and a unique payer/provider collaboration," said Knox Singleton, CEO of Inova. "Coupled with a comprehensive network of community physicians, emphasis upon preventive care and, when required, treatment at the right facility at the right time, Northern Virginia consumers will enjoy lower costs and greater patient satisfaction."
The partnership combines long-standing local, regional and national experience to deliver sustainable solutions for high-quality, affordable health care. Innovation Health leverages Aetna and Inova services and technology to promote wellness and improve patient outcomes.
Inova serves more than 2 million people each year from throughout and beyond the Washington, D.C. metropolitan area. Aetna provides health benefits to more than 600,000 members in Virginia.
About Aetna
Aetna is one of the nation's leading diversified health care benefits companies, serving an estimated 44 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services, workers' compensation administrative services and health information technology products and services. Aetna's customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.
About Inova
Inova is a not-for-profit health care system based in Northern Virginia that consists of hospitals and other health services, including emergency- and urgent-care centers, home care, nursing homes, mental health and blood donor services, and wellness classes. Governed by a voluntary board of community members, Inova's mission is to improve the health of the diverse community it serves through excellence in patient care, education and research.


Thursday, August 29, 2013

Aetna pulls out of New York health insurance exchange

(Reuters) - Aetna Inc, the No. 3 U.S. health insurer, said on Thursday it has decided not to sell insurance on New York's individual health insurance exchange, part of the country's healthcare reform.
New York is the fifth state where Aetna has pulled its application to sell the plans that go on sale on October 1 and into effect on January 1, 2014. It has also reversed course in Maryland, Ohio, Georgia, and Connecticut, where it is based.
Aetna spokesman Cynthia Michener said it made the move after assessing its business strategy, following the acquisition of smaller insurer Coventry Healthcare in May. Coventry also filed applications to sell plans in more than 10 states.
"Our goal for 2014 is to participate in a limited number of state exchanges where we can be competitive and add the most value to the market," she said in an emailed statement.
She said the company will continue to serve small business and large business customers in New York and will offer individual products outside of the exchanges.
New York's market for individuals is currently only about 17,000 people, but the exchange is expected to bring in 1 million people during the first three years. The exchange announced insurance participants on August 20. Aetna was not on the list.
(Reporting by Caroline Humer; Editing by Jeffrey Benkoe)

Saturday, July 20, 2013

Aetna Launches Patient-Centered Medical Home Program in Massachusetts

PRESS RELEASE
July 15, 2013, 12:29 p.m. EDT

-- Rewards Primary Care Physicians for Improved Patient Care Coordination --


HARTFORD, Conn., Jul 15, 2013 (BUSINESS WIRE) -- Aetna AET +0.40% announced today the launch of its Patient-Centered Medical Home (PCMH) program in Massachusetts. The program recognizes primary care physicians (PCPs) who more actively coordinate and manage their patients' care across the health care system. By strengthening the role of PCPs, the PCMH program aims to improve patient health outcomes.
"Patient-centered care is something Aetna has always advocated. Our PCMH program rewards PCPs who focus on the patient's entire health needs, not just a single condition," said Elizabeth Curran, head of National Network Strategy and Program Development for Aetna. "As a result, members may experience better health, fewer hospitalizations, improvements in transitions of care, and greater engagement. The PCMH program is one more way we are moving from a system that rewards the quantity of procedures to a system that rewards quality outcomes."
Primary care providers who participate in Aetna's networks, who have been recognized by the National Committee for Quality Assurance (NCQA) as a PCMH, and who are not participating in other quality incentive programs with Aetna are being considered for the PCMH program in Massachusetts. Recognized providers will receive a quarterly Coordination of Care payment for each commercial (non-Medicare) Aetna member in their care. The NCQA-recognized PCMH practices are recognized for providing a number of services, including:
-- Improved access to care, such as the ability to reach health professionals outside normal business hours;
-- Proactive and planned preventive care (screenings, physicals, labs);
-- Improved access through e-mail, web or telephone visits; and
-- Access to nurses and other health care professionals, allowing more focused physician visits.
Aetna serves approximately 208,000 commercial members in Massachusetts. More than 300 physicians are currently part of the growing program.
About Aetna
Aetna is one of the nation's leading diversified health care benefits companies, serving an estimated 44 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services, workers' compensation administrative services and health information technology services. Aetna's customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130715006022r1&sid=cmtx6&distro=nx
SOURCE: Aetna

Wednesday, June 19, 2013

Aetna to stop selling individual plans in Calif

.

Published: June 18, 2013
SACRAMENTO, Calif. (AP) — Aetna Inc. will stop selling individual health insurance policies in California next month, just weeks after opting out of the exchange that is being established as part of the national health care reforms, a state regulator said Tuesday.

California Insurance Commissioner Dave Jones said he was disappointed in Aetna's decision because consumers need more choices. The decision does not affect people who have Aetna insurance through their employer.

"This is not good news for California consumers," Jones said in a statement. "A competitive market with more choices for consumers is important, as we implement the Affordable Care Act and health insurance coverage is a requirement."

Aetna is a relatively small player in California's individual health insurance market. According to 2011 figures compiled by the California HealthCare Foundation, Aetna has about 5 percent of the state's individual health market. By comparison, Anthem Blue Cross, Blue Shield and Kaiser share 87 percent.

Aetna says it has about 58,000 individual enrollees in the state and expects to have about 49,000 by the end of the year. It plans to withdraw from the state at the end of the year but will continue to offer small and large group plans, as well as Medicare, dental and life insurance products.

Starting Oct. 1, those seeking to buy their own health insurance will be directed to Covered California, the state's new health insurance exchange. Aetna was not among 13 insurance carriers that will sell individual coverage to millions of Californians through the exchange.

http://tbo.com/health/aetna-to-stop-selling-individual-plans-in-calif-ap_health906306b832a34e8c879dbe53cd388f3b

Thursday, June 6, 2013

Coventry Health Care, Inc. Announces Offer to Purchase 6.125 Percent Debt Securities for Cash

PRESS RELEASE
June 6, 2013, 4:15 p.m. EDT


HARTFORD, Conn., Jun 06, 2013 (BUSINESS WIRE) -- Coventry Health Care, Inc., a wholly owned subsidiary of Aetna Inc. AET +1.98% , announced today the commencement of a cash tender offer (the "Change of Control Offer") for any and all of its outstanding 6.125 percent senior notes due 2015 (CUSIP No. 222862AF1). The securities are fully and unconditionally guaranteed by Aetna.
The Change of Control Offer is being made pursuant to the indenture governing the securities, which requires Coventry to offer to purchase the securities upon the occurrence of a change of control of Coventry. The merger by which Coventry became a wholly owned subsidiary of Aetna, which was completed on May 7, 2013, constituted a change of control of Coventry under such indenture.
The Change of Control Offer will commence on June 6, 2013, and expire at 5:00 p.m. ET on July 8, 2013 (the "expiration date"). The purchase price to be paid for any securities that are validly tendered and not validly withdrawn pursuant to the Change of Control Offer will be 101 percent of the principal amount of such securities, plus accrued and unpaid interest to the purchase date for the Change of Control Offer, which will be July 10, 2013.
The Change of Control Offer is being made pursuant to an "Offer to Purchase" dated June 6, 2013, which sets forth a more detailed description of the Change of Control Offer, the merger and Aetna's guarantee of the securities. Holders of the securities are urged to read carefully the Offer to Purchase before making any decision with respect to the Change of Control Offer.
In order to receive the purchase price payable pursuant to the Change of Control Offer, holders of the securities must validly tender their securities prior to the expiration date and not validly withdraw their securities prior to the expiration date. Prior to the expiration date, securities tendered may be withdrawn at any time by following the procedures described in the Offer to Purchase.
The obligation of Coventry to accept for purchase and to pay the purchase price and the accrued and unpaid interest on securities purchased pursuant to the Change of Control Offer is not subject to any minimum tender condition.
U.S. Bank National Association (U.S. Bank) is serving as paying agent for the Change of Control Offer. Questions regarding the Change of Control Offer may be directed to U.S. Bank at 1-800-934-6802. Requests for assistance or additional copies of the Offer to Purchase may be directed to Aetna at 1-860-273-1322.
This news release shall not be construed as an offer to purchase or a solicitation of an offer to purchase any of the securities or any other securities. None of Coventry, Aetna or U.S. Bank makes any recommendations as to whether holders of the securities should tender their securities pursuant to the Change of Control Offer.
About Aetna
Aetna is one of the nation's leading diversified health care benefits companies, serving an estimated 44 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services, workers' compensation administrative services and health information technology services. Aetna's customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.