The Hartford And Aetna Team Up To Reshape Workers’ Compensation In Home State Of Connecticut
The Hartford offers Connecticut customers access to Aetna’s workers’ compensation health care network
HARTFORD, Conn., September 27, 2005 – Connecticut is home state to two of the nation’s leading insurers. Now those insurers are using their hometown advantage to bring advanced workers’ compensation services to businesses throughout the Charter Oak state.
The Hartford Financial Services Group, Inc. (NYSE: HIG), Connecticut’s largest writer of workers’ compensation, has contracted with Aetna (NYSE: ΑET) to offer its customers the Aetna Workers’ Comp AccessSM (AWCA) network of health care providers. This arrangement, which became effective Sept. 1, is the second initiative of its kind. Aetna began providing services to The Hartford’s clients in Pennsylvania on June 1, and similar arrangements are planned for other states in the future.
"The agreement will mean something wonderful for Connecticut. Both our companies have similar business philosophies and a broad base of clients here. This will really make a difference in how workers’ compensation claims are handled," said Judy Kunisch, vice president, medical support and strategy at The Hartford. "By combining The Hartford’s deep experience with workers’ compensation management and Aetna’s expertise in medical care management, we will develop and facilitate the use of best practices to treat injuries with qualified health care providers."
Through this arrangement, The Hartford offers Connecticut insureds a certified workers’ compensation plan that allows enrolled employers to guide injured workers to a broad network of credentialed medical providers and facilities. Through a contractual arrangement with AWCA, The Hartford is able to offer access to a vast group of services, including more than 11,300 medical care professionals, such as physicians, orthopedists, orthopedic surgeons, dentists and physical therapists and 28 hospitals. It also includes some 23,000 ancillary services providers, such as durable medical equipment, home health agencies, skilled nursing facilities, laboratories, ambulatory surgicenters, diagnostic testing centers, optical facilities and orthotics facilities.
The Hartford provides workers’ compensation insurance for more than 15,500 companies in Connecticut.
"Connecticut is our home state, so we are especially delighted to expand our relationship with The Hartford and provide their customers from across the state with access to a PPO (preferred provider organization) network built on our existing relationships with doctors and hospitals and our demonstrated success in the health benefits business." said Tom Shivers, head of sales for AWCA. "Hartford insureds will be pleased with AWCA’s extensive medical community and our commitment to quality."
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 14.435 million medical members, 12.976 million dental members, 9.117 million pharmacy members and 13.662 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 684,000 health care professionals, including over 405,000 primary care and specialist doctors and 4,135 hospitals. For more information, please visit www.aetna.com. (Figures as of June 30, 2005)
The Hartford
The Hartford is one of the largest financial services and insurance companies in the U.S., with worldwide revenues of $22.7 billion in 2004. The company is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property-casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. 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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