HARTFORD, Conn., February 14, 2001 ― During the past year, Aetna (NYSE: ΑET) has been working diligently to address
many of the concerns of physicians in Connecticut and around the
country. In fact, Aetna Chairman William H. Donaldson initiated
discussion with the Connecticut State Medical Society within 60
days of being appointed, and we have continued a constructive
dialogue that has led to important changes in Connecticut and
across the country. As recently as one week ago, we had a discussion
with the CSMS leadership, and absolutely nothing was said about
the issues involved in this litigation. They specifically indicated
that they were pleased with our evolving relationship and looked
forward to the additional initiatives that we are working on together.
So we are surprised and disappointed that the parties have chosen
to use litigation, which is costly, cumbersome and adversarial,
instead of raising these issues directly with us.
While we have not yet seen the litigation, it appears that it
is similar to claims made in purported class-action suits filed
around the country since late 1999. These complaints seek to engage
in a policy quarrel with the managed care system. The U.S. Supreme
Court recognized in a unanimous decision last June (Pegram v.
Herdrich) that for over 27 years, Congress has promoted the formation
of HMOs. The Court emphasized that the choices inherent in the
managed care system properly should be made by legislatures and
admonished the courts not to get involved in these essentially
legislative questions.
For our part, we will continue to pursue changes to our business
consistent with the evolution of markets and the best interests
of our various constituents. We believe that suits such as this
one are without legal merit and we will, of course, vigorously
pursue our defense.
