Two Experts, The Hartford And Aetna, Team Up To Shape Workers’ Compensation
The Hartford is first major carrier to gain access to Aetna’s workers’ compensation health care network for its customers
HARTFORD, Conn., April 18, 2005 — The Hartford Financial Services Group, Inc. (NYSE: HIG) and Aetna (NYSE: ΑET) announced today a strategic workers’ compensation relationship to help manage the rising costs of workplace injuries and illnesses. The Hartford, one of the nation’s five largest workers’ compensation insurers, has contracted with Aetna to offer The Hartford’s customers the Aetna Workers’ Comp AccessSM (AWCA) network of health care providers.
"This is a very exciting time. The medical care industry is constantly evolving, and it’s not every day that two leaders from different sectors of the insurance industry work together to set the tone for future innovation in workers’ compensation," said Judy Kunisch, vice president, medical support and strategy at The Hartford. "By combining The Hartford’s deep experience with workers’ compensation management with Aetna’s expertise in medical care management, we can develop and apply best practices to treat injuries with qualified healthcare providers."
Effective June 1, 2005, The Hartford will have access to AWCA’s network of health care professionals in Pennsylvania to provide services for The Hartford’s workers’ compensation clients. The network services include physical therapy, occupational medicine, chiropractic, radiology, orthopedics, facilities and home health care. The Hartford expects the new network program will increase its collaboration with the employer, injured workers, and care providers, and thereby foster better outcomes.
"The alignment of The Hartford with AWCA pairs the demonstrated strengths and capabilities of two major trusted service organizations," said Robyn Walsh, president of AWCA. "Through this relationship, The
Hartford’s customers will be the beneficiaries of Aetna’s strong physician relationships, network management and commitment to facilitate member and customer access to quality, affordable health care."
The Hartford has long demonstrated its commitment to operational excellence and to the cutting-edge use of data to improve its business and services. Aetna’s focus on innovation, integration and information in health care delivery and services is aligned with the strategy and customer commitments of The Hartford. The overall vision is to offer data analysis, reporting and other administrative services that are unique to workers’ compensation claims management. This includes the increasing use of new evidence-based standards of care, which can lead to improved health and more efficient use of health care resources than traditional consensus-based treatment guidelines.
The AWCA network, available in Pennsylvania, New Jersey, Connecticut, Texas and Virginia, includes 130,000 physicians, hospitals and other health care providers. The Hartford has about 14,000 workers’ compensation customer locations in Pennsylvania, and expects to expand its use of the AWCA network beyond that state in the future.
Aetna
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 13.7 million medical members, 11.9 million dental members, 8.4 million pharmacy members and 13.5 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 655,000 health care professionals, including over 390,000 primary care and specialist doctors and 3,937 hospitals. For more information, please visit www.aetna.com. (Figures as of December 31, 2004)
The Hartford
The Hartford is one of the nation’s largest financial services and insurance companies, with 2004 revenues of $22.7 billion. The company is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property-casualty insurance. The Hartford’s Internet address is www.thehartford.com.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Hartford cautions investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in The Hartford’s Quarterly Reports on Form 10-Q, the Hartford’s 2004 Annual Report on Form 10-K and the other filings The Hartford makes with the Securities and Exchange Commission. The Hartford assumes no obligation to update this release, which speaks as of the date issued.
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