Aetna Announces 2004 Medicare+Choice Markets
Company expects to introduce POS option in two New York counties
HARTFORD, Conn., September 8, 2003 — Aetna (NYSE: ΑET) announced today that it intends to offer a Medicare+Choice option in five states for 2004, remaining in all of the markets it served in 2003. The company will continue to operate its Medicare+Choice HMO plan, the Aetna Golden Medicare Plan™, in certain counties of Pennsylvania, New Jersey, New York and California, and will continue to offer its Medicare+Choice point-of-service plan, Aetna Golden Choice™, in certain counties of Maryland, New Jersey and Pennsylvania.
In addition, Aetna expects to expand its Aetna Golden Choice Plan by offering it in Westchester and Rockland counties in New York, pending federal approval. Introduced last year, the Aetna Golden Choice Plan is offered under the Demonstration Project announced in 2002 by the Centers for Medicare & Medicaid Services (CMS).
"Aetna is continuing its participation in the Medicare+Choice program in 2004," said Aetna Chairman and CEO John W. Rowe, M.D. "We are committed to offering innovative health benefits solutions to retirees, and are pleased that we may have the opportunity to offer a Medicare+Choice point-of-service product in two additional counties next year. These plans provide the added flexibility that should encourage more Medicare beneficiaries to participate in Medicare+Choice."
At the same time, Dr. Rowe stressed the urgency of completing and passing Medicare reform legislation currently in conference in Washington, D.C. "While our overall direction for 2004 for Medicare+Choice is cautious expansion, we must emphasize the need for substantial changes to the current Medicare system. With rising health care costs and dwindling reimbursements, it has become increasingly challenging to maintain the Medicare+Choice business.
"Aetna remains ready and willing to work with legislators to develop a solution that is in everyone’s best interests," Dr. Rowe said. "It is critical that the Federal Government recognize the need for adequate funding for insurers to be able to deliver on their promise to beneficiaries."
Aetna’s Medicare+Choice plans will continue operations in 26 counties in California, New Jersey, New York and Pennsylvania.
As part of the CMS Medicare+Choice Demonstration Project, the company will offer an "open access" Medicare+Choice plan, which does not require referrals or the selection of a primary care physician. Pending federal approval, the Aetna Golden Choice Plan is expected to be available in both Westchester and Rockland counties in New York, and would also be offered under the CMS Demonstration Project.
Additional details about Aetna’s Golden Medicare and Golden Choice plans – including specific information regarding any changes to premiums or benefits in 2004 – should be received by current members by October 31.
Aetna is one of the nation’s leading providers of health care, dental, pharmacy, group life, disability and long-term care products, serving more than 13.0 million medical members, 11.3 million dental members and 11.7 million group insurance customers, as of June 30, 2003. The company has expansive nationwide networks of more than 579,000 health care services providers, including nearly 349,000 primary care and specialist physicians and 3,589 hospitals.
Aetna Golden Medicare Plan HMO by County:
California: 4 counties, Los Angeles, Orange, San Bernardino* and Riverside*
New Jersey: 7 counties, Bergen, Essex, Hudson, Passaic, Sussex, Union and Camden
New York: 7 counties, Queens, Kings, Richmond, New York, Bronx, Rockland and Westchester
Pennsylvania: 3 counties, Philadelphia, Chester and Delaware
*San Bernardino and Riverside are partial Counties.
Aetna Golden Choice Plan (Demonstration Project) by County:
New York: 2 new counties, Westchester and Rockland (pending federal approval)
Maryland: 6 counties, Anne Arundel, Calvert, Charles, Baltimore, Harford, Baltimore City
New Jersey: 9 counties, Bergen, Essex, Hudson, Mercer, Middlesex, Monmouth, Ocean, Passaic, Union
Pennsylvania: 6 counties, Monroe, Schuylkill, Lehigh, Northampton, Montgomery, Bucks
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