Aetna Announces 2003 Medicare HMO Changes
Premiums lowered in some markets, prescription coverage expanded
HARTFORD, Conn., November 26, 2002 — Aetna (NYSE: ΑET) today announced changes to its 2003 Medicare+Choice HMO benefits and premiums that are designed to add more value for Medicare beneficiaries. Aetna is marketing the enhanced plans to Medicare beneficiaries in 21 counties in Pennsylvania, New York, New Jersey and California. The new individual benefits take effect Jan. 1, 2003.
"We're extremely happy to be able to offer Medicare beneficiaries more flexibility and more benefit options for 2003," said Susan Rawlings, head of Retiree Markets for Aetna. "Reimbursement levels and rising medical costs still make it extremely challenging to offer a competitive, affordable Medicare HMO plan in many markets, but we're pleased that we've been able to expand coverage and reduce out-of-pocket costs in many areas where we offer the Aetna Golden Medicare Plan™."
Key enhancements to the Aetna Golden Medicare Plan benefit offerings include:
- The return of prescription drug coverage in Pennsylvania, New York and California. Members will receive generic drug coverage with no annual limit, and will pay only a $10 co-pay per covered prescription;
- A zero-dollar plan premium option in Los Angeles County and in four New York City counties;
- Significantly lower monthly premiums in Philadelphia County;
- Two different plan options in Philadelphia County and in five New York City counties.
Market-by-market details, including plan premiums and co-pays, are available at "Medicare Compare"
(www.medicare.gov/mphCompare/home.asp), the official U.S. government website for Medicare beneficiaries.
Aetna will increase premiums in some counties, and not all of Aetna's service areas will offer a prescription drug benefit. Members in New Jersey will continue to receive reduced rates up to 40 percent below retail prices for eligible prescription drugs at pharmacies participating in Aetna's Reduced Rate Pharmacy Discount Program. Discounts will not be available for all drugs, and retail prices will vary among pharmacies.
"We believe the Medicare HMO plans we're offering in 2003 will provide more benefits, at a more reasonable cost, than original Medicare and many Medigap supplements combined," said Rawlings. "Aetna remains committed to finding innovative benefits solutions for Medicare beneficiaries, and we hope to be able offer more enhancements in the future."
Aetna has 121,000 Medicare HMO members in 21 counties in four states. In 2003, Aetna will offer a Medicare+Choice HMO plan for individuals in the following states and counties:
- Pennsylvania: 3 counties, Philadelphia, Chester and Delaware counties in Southeastern Pennsylvania;
- New York: 7 counties, Queens, Kings, Richmond, New York and Bronx, as well as suburban Westchester and Rockland counties.
- New Jersey: 7 counties, Bergen, Essex, Hudson, Passaic, Sussex and Union counties in Northern New Jersey; Camden County in Southern New Jersey.
- California: 4 counties, Los Angeles, Orange, San Bernardino and Riverside counties in Southern California.
In addition to the Aetna Golden Medicare HMO plan, Aetna in 2003 will introduce its Aetna Golden Choice™ Plan for Medicare beneficiaries in 21 Maryland, New Jersey and Pennsylvania counties. The Aetna Golden Choice Plan is a flexible, HMO-based point-of-service plan being offered under a Demonstration Project announced Aug. 27 by the Centers for Medicare and Medicaid Services (CMS).
Aetna is one of the nation's leading providers of health care and related group benefits, serving approximately 13.9 million medical members, 11.9 million dental members and 11.7 million group insurance customers, as of September 30, 2002. The company has expansive nationwide networks of more than 539,000 health care services providers, including over 327,000 primary care and specialist physicians and 3,300 hospitals. For more information about Aetna, please visit the company's website at www.aetna.com.
"Aetna" is the brand name for products and services provided by one or more of the Aetna group of subsidiary companies. These companies include Aetna Health Inc. and Aetna Health of California Inc.
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