HARTFORD, Conn., December 17, 2002 — Medicare beneficiaries in 21 Maryland, New Jersey and Pennsylvania counties will have a new health insurance option beginning Jan. 1, as Aetna (NYSE: ΑET) introduces its Golden Choice™ Plan. 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) as part of the Medicare+Choice program.
"Aetna is committed to offering affordable and innovative health benefits solutions to Medicare beneficiaries, and we’re pleased to be able to offer a Medicare+Choice product with greater flexibility," said Aetna Chairman and CEO John W. Rowe, M.D.
"We are encouraged by the federal government’s desire to work with the private sector to develop innovative products for Medicare beneficiaries, and we’re confident that this collaboration will benefit the millions of Americans who now have access to these products," Dr. Rowe said.
The Aetna Golden Choice Plan is available to individuals and groups for Jan. 1, 2003 effective dates. It offers more benefits than original Medicare, while providing more options and flexibility than a Medicare HMO plan.
Under the plan, members will be able to receive care within or outside the Aetna provider network, and will not be required to obtain referrals or select a primary care physician. Notably, the plan also provides coverage for prescription drugs, which are not covered under original Medicare. Aetna Golden Choice Plan members will receive generic drug coverage with no annual dollar limit, paying only a $15 co-pay per prescription.
"Paying for prescription drugs is a daunting challenge for older Americans," said Susan Rawlings, head of Retiree Markets for Aetna. "They are not covered under original Medicare, and too many people have to choose between paying for needed prescriptions and being able to afford their other day-to-day necessities. The Aetna Golden Choice Plan is a good first step to help address this critical need."
Plan specifics, including premiums and co-pays, are available at "Medicare Compare," (www.medicare.gov/mphCompare/home.asp) the official U.S. government website for Medicare beneficiaries.
The Aetna Golden Choice Plan will be available to Medicare beneficiaries in the following states and counties:
Maryland: Anne Arundel, Calvert, Charles, Baltimore, Harford and Baltimore City;
Pennsylvania: Monroe, Schuykill, Lehigh, Northampton, Montgomery and Bucks; New Jersey: Bergen, Essex, Hudson, Mercer, Middlesex, Monmouth, Ocean, Passaic and Union.
More than 1.3 million Medicare beneficiaries reside in those counties, and will be eligible to participate in the Aetna plan.
In addition to offering the Aetna Golden Choice Plan, Aetna provides coverage to more than 121,000 Medicare beneficiaries under its Aetna Golden Medicare Plan™ HMO, which is offered in 21 counties in California, New Jersey, New York and Pennsylvania.
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 Corporate Health Insurance Company.
