Aetna To Offer Medicare Advantage HMO Plan In Bucks, Montgomery Counties
"Zero-Premium" Plan Option Offered in Philadelphia Area
KING OF PRUSSIA, Pa., July 12, 2004 — Aetna (NYSE: ΑET) announced today that it has received approval from the Centers for Medicare and Medicaid Services (CMS) to offer its Aetna Golden Medicare Plan® to Medicare beneficiaries in Pennsylvania’s Bucks and Montgomery counties, expanding its service area in the Philadelphia market. Aetna will offer two plan options in Bucks and Montgomery counties, one of which will be a "zero-premium" plan.
"I am very pleased that Aetna has re-entered Bucks and Montgomery counties to offer a Medicare Advantage program to Medicare beneficiaries," said U.S. Rep. James C. Greenwood (R-Pa.). "More competition will mean more benefits and expanded choice for seniors and disabled individuals in the Medicare program."
"We welcome the opportunity to offer the Aetna Golden Medicare Plan to Medicare beneficiaries in these counties," said Eric Cormier, general manager of the East Region for Aetna’s Retiree Markets. "And we’re particularly pleased to offer a zero-premium option. Aetna’s Medicare Advantage plans offer a wide range of choices and benefit levels, and we continue to look for ways to expand coverage for Medicare beneficiaries."
The Aetna Golden Medicare Plan is a Medicare Advantage (formerly Medicare+Choice) HMO plan that offers beneficiaries access to network physicians and hospitals. Aetna expects to begin offering the new plans starting August 1.
In addition, the Aetna Golden Choice™ Plan, a Medicare Advantage point-of-service plan that provides out-of-network benefits, will continue to be offered in Bucks, Montgomery, Lehigh, Monroe, Northampton and Schuylkill counties.
Aetna has increased its offerings of Medicare Advantage plans to both individuals and groups, Cormier said. Federal government changes to the Medicare program enabled Aetna to expand its Medicare HMO service area and introduce zero-premium options.
"We worked closely with Congress and the Administration as they made a number of needed changes to the Medicare program," Cormier said. "Those changes allowed Aetna to enhance the benefits and reduce the premiums for our Medicare Advantage plans, while expanding our service area into places like Bucks and Montgomery counties."
As one of the nation’s leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 13.3 million medical members, 11.2 million dental members, 8.1 million pharmacy members and 12.4 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost effective health care through a nationwide network of more than 618,000 health care professionals, including over 370,000 primary care and specialist doctors and 3,783 hospitals. For more information, please visit www.aetna.com. (Figures as of March 31, 2004)
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