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Aetna Inc

BUSINESS
November 14, 2007 | From Reuters
Health insurer Aetna Inc. agreed to make changes to its doctor-ranking system nationwide after a probe by the New York state attorney general into whether such programs steered patients toward low-cost physicians at the expense of quality. Atty. Gen. Andrew Cuomo's office said Tuesday that Aetna was the second U.S. insurer to adopt Cuomo's model for physician-ranking programs and the first to apply it nationally. Last month, Cigna Corp. reached a similar deal with Cuomo.
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BUSINESS
August 17, 2007 | From Reuters
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.
BUSINESS
February 9, 2007 | From Bloomberg News
Health insurers Aetna Inc. and Health Net Inc. on Thursday reported increased fourth-quarter profits as they added customers and held down medical costs. Los Angeles-based Health Net, which provides health insurance to 2.4 million people, mostly in California, said fourth-quarter net income rose 11% to $84.8 million, or 72 cents a share, up from $76.7 million, or 65 cents, a year earlier. Sales rose 9% to $3.21 billion as the company targeted small and mid-size employers.
BUSINESS
October 27, 2006 | From the Associated Press
Health insurer Aetna Inc. said third-quarter profit rose 28%, driven in part by aggressive campaigns that added more than 700,000 customers in the last year. Net income for the Hartford, Conn.-based company rose to $476.4 million, or 85 cents a share, from $372.8 million, or 62 cents, during the same period last year.
BUSINESS
July 28, 2006 | From Reuters
Aetna Inc., one of the biggest U.S. health insurers, said Thursday that second-quarter net income fell on higher medical costs and slashed its membership forecast, sending its shares sharply lower. The results stunned the market for the second quarter in a row and again dragged down the sector. "It wasn't a full-fledged disaster, but it was pretty close," CIBC analyst Carl McDonald said in a research note titled "Deja Vu."
BUSINESS
June 23, 2006 | From Bloomberg News
Aetna Inc. said Thursday that it would buy discounted copies of the cholesterol drug Zocor from Teva Pharmaceutical Industries Ltd. rather than accept an offer from Merck & Co. to sell its branded pill for less than the generic. Aetna patients will pay more out-of-pocket for Merck's Zocor than Teva's generic, Aetna said. Eric Elliott, Aetna's pharmacy manager, said the Hartford, Conn.
BUSINESS
April 28, 2006 | Daniel Yi, Times Staff Writer
Worried that medical costs will increase steeply after months of modest growth, investors sent shares of health insurers tumbling Thursday -- led by giant Aetna Inc., which plummeted 20%. Some analysts, however, said health insurers continued to be profitable and that Thursday's loss of investor confidence, which compounded weeks of declines in share prices, should not spur companies to make drastic changes or hike premiums to increase profit margins. The Hartford, Conn.
BUSINESS
February 10, 2006 | From Bloomberg News
Aetna Inc. said Thursday that fourth-quarter profit rose 41% as the third-largest U.S. health insurance provider added customers and held down costs. Net income rose to $423 million, or $1.42 a share, from $300.7 million, or 98 cents, a year earlier, the Hartford, Conn.-based company said. Revenue climbed 14% to $5.9 billion.
BUSINESS
February 11, 2005 | From Bloomberg News
Aetna Inc., the third-largest U.S. health insurer, said fourth-quarter earnings jumped 21% because of an increase in enrollment and premiums. The company split its stock and doubled its dividend payout. Net income rose to $300.7 million, or $1.95 a share, from $249.5 million, or $1.56, a year earlier, Hartford, Conn.-based Aetna said. Revenue climbed 13% to $5.2 billion.
BUSINESS
December 15, 2004 | From Bloomberg News
Employees at Boeing Co., the second-biggest U.S. defense contractor, have sued the company and health insurer Aetna Inc., saying they denied valid disability insurance claims. The lawsuit, filed in federal court in Seattle, says Aetna emphasized certain evidence in denying insurance claims for disabled employees and dismissed evidence that strengthened those claims. Boeing is named in the suit as a sponsor of Aetna's benefits plan.
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