June 18, 2013 |
Aetna Inc. said it would stop selling individual health insurance policies in California next month, and nearly 50,000 existing policyholders will have to find new coverage by January. The company's announcement Monday comes a month after it opted not to participate in California's new state-run insurance market for consumers, a key component of the new federal healthcare law. Aetna was a distant fourth in the state's individual health market with a 5.2% market share in 2011, according to Citigroup data.
June 19, 2013 |
Facing tougher price competition from a state-run marketplace, Aetna Inc. said it would exit California's individual health insurance market by year-end and leave nearly 50,000 customers searching for new coverage. Aetna, the nation's third-largest health insurer, will maintain a major presence in California with a focus on large and small employers. But the move reflects how the federal healthcare law and its rollout in different states is rapidly reshaping the health insurance landscape for millions of consumers.
October 21, 2008 |
Aetna Inc. added a link to the Gay and Lesbian Medical Assn. to the company's online directory of practitioners, DocFind, becoming the first U.S. health insurer to make such a move. The association's database lists more than 1,200 primary-care providers, specialists, therapists and dentists "who welcome lesbian, gay, bisexual and transgender patients," according to a statement from the association, which is in San Francisco, and Aetna, based in Hartford, Conn.
February 13, 2009 |
Aetna Inc., the third-largest U.S. health insurer, reported a 57% drop in profit because of investment losses and expenses for eliminating jobs. The Hartford, Conn., company maintained its earnings forecast for the year, saying it expected to add customers. Fourth-quarter net income fell to $194.7 million, or 42 cents a share, from $448.4 million, or 87 cents, a year earlier. Its shares rose 82 cents to $33.06.
August 17, 2007 |
New York Atty. Gen. Andrew Cuomo warned health insurers Aetna Inc. and Cigna Corp. on Thursday that planned programs that rank physicians on quality and cost would be likely to confuse or deceive consumers. In letters to the insurers, Cuomo took issue with the design of Aetna Aexcel and Cigna Care Network programs that would encourage members to use specialists whom the insurers have identified as delivering quality care while containing costs.
May 30, 2003 |
A federal judge in Miami gave health insurer Aetna Inc. preliminary approval for a $170-million plan to settle claims by 700,000 doctors that the company unfairly cut reimbursements. The settlement approved by U.S. District Judge Federico Moreno gives doctors $100 million. Hartford, Conn.-based Aetna also agreed to pay $20 million to create a foundation to address health-care problems and $50 million in legal costs.