August 7, 1999 |
Aetna Inc. completed its purchase of Prudential Health Care to become the nation's largest health maintenance organization. The deal was consummated when New Jersey became the last state to approve the merger. As several states have done, New Jersey forced Aetna to meet several conditions, including promising to keep 90% of Prudential's doctors for the next three years. The American Medical Assn.
June 22, 1999 |
By the end of the summer, one in 12 Americans will be covered by a single health insurance company, Aetna-U.S. Healthcare, under a proposed merger approved Monday by federal regulators. The Justice Department's decision gives Connecticut-based Aetna Inc., already the nation's largest health plan, the green light to proceed with its proposed takeover of Prudential Insurance Co. of America's health-care division. Once completed, Aetna's membership would increase by 50% to 21 million nationwide.
April 29, 1999 |
Aetna Inc. said Wednesday its first-quarter earnings grew 15%, more than expected, as it raised premiums on employer health plans and shed unprofitable Medicare business. The nation's largest health insurer reported profit from operations of $168.2 million, or $1.08 a share, up from $146.6 million, or 90 cents, a year ago, including costs for fixing the year 2000 computer bug in its systems. Revenue for the Hartford-based company, including capital gains, jumped 23% to $5.7 billion.
August 27, 1995 |
It seemed so easy when Lanci and Greg Wall switched to an HMO last fall. The Dana Point couple figured they would save money. Their two young sons would keep their pediatrician. And Lanci, a breast cancer survivor whose left breast was removed seven years ago, felt assured that she could keep her oncologist. But the Walls learned the hard way how HMOs work. Though the boys could go to the same pediatrician, the plan from Greg's work did not fully cover Lanci's oncologist.
October 6, 1992 |
The Supreme Court agreed Monday to decide whether the insurance industry can be forced to pay damages for allegedly conspiring to limit some types of liability coverage. A ruling in the case, due early next year, could shake up the insurance industry. If the justices were to side with attorneys from California and 18 other states, the major insurers could face enormous damage claims.