HARTFORD, Conn., January 23, 2007 — Aetna (NYSE: ΑET), the first national health insurer to support an individual insurance requirement nearly two years ago, expressed support today for elements of the President’s efforts to address the challenge of the uninsured. These efforts, coupled with bi-partisan leadership and proposals from various governors and other thought leaders, dramatically increase the possibility for success. While early in the deliberative and legislative process, the ultimate impact of the State of the Union speech will be a true national dialogue on the most important issue facing Americans of every age and economic circumstance.
"This is a good start to ensuring access to high quality, affordable health care for all Americans," said Ronald A. Williams, Chairman and CEO of Aetna. "The President has put the spotlight on the right issue, but we need to recognize that, in addition to increasing access, we need to do a better job at improving health status. Research clearly shows that uninsured individuals obtain less care, use fewer preventive services and fail to get recommended treatments. In this case, good intentions and good policy will make for a healthier population and lower costs to society.
"Aetna believes the U.S. health care system can be repaired if insurers, employers, physicians, hospitals and other health care providers work with elected officials, thought leaders and the American public, to commit to addressing the interconnected issues of access, quality and affordability," noted Mr. Williams. "What is missing, however, is a mechanism in place for financing coverage for those who truly cannot afford it.
"Universal coverage can occur only if there is universal participation. This is a shared responsibility, and equalizing the tax treatment of health insurance for those who get their coverage through their employer and those who purchase it directly makes sense. People who do not have access to health insurance through their workplace should be able to use pretax dollars to purchase coverage. This will make health insurance more affordable for millions of Americans — and is an important step forward in addressing the crisis of the uninsured.
"As a nation, our shared goal of controlling health care costs requires us to take a hard look at this issue, and we look forward to working with President Bush and others to ensure that his proposed changes to the tax treatment of health insurance occurs in a fair and responsible way that builds on the strengths of our employer-based system."
Williams also cautioned policymakers to avoid unintended consequences such as heightening the frustration of employers struggling to provide health insurance to their employees.
He also noted that private sector solutions have been a factor in successfully driving down the cost of care. "Just last year, we had the slowest rate of increase in six years," said Williams. "We are moving in the right direction, but I think we can do better. Aetna is committed to working with the White House and Congress to share our vast experience based on innovation in medical management and technology to craft a workable solution."
About Aetna
Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 29.8 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans and government-sponsored plans. www.aetna.com
