Aetna And AARP To Expand Health Care Options For Americans Ages 50-64
New initiative will increase availability, affordability of insurance
Sustained effort to enhance care quality and outcomes, focus on prevention and wellness
HARTFORD, CONN., April 17, 2007 — Aetna (NYSE: ΑET) and AARP today announced a broad new initiative under which Aetna will provide innovative products and services and individual health insurance for AARP members ages 50—64. The announcement was made earlier today by AARP at http://www.aarp.org/research/press-center/. Under the seven-year agreement, Aetna will begin offering individual health plans no later than January 1, 2008 to the approximately 18 million AARP members aged 50-64, a significant number of whom currently have no insurance or are under-served.
The goal of this relationship is to offer an unmatched breadth of affordable health insurance products and services to Americans ages 50-64 and their families. "This new initiative is a tremendous opportunity for Aetna to work with AARP in transforming the health care landscape for millions of Americans," said Ronald A. Williams, chairman and CEO of Aetna. "We understand the substantial value that AARP provides to its growing member base; particularly the 18 million members aged 50-64 and their families, who are increasingly burdened by the growing complexity and increasing cost of health care."
Williams also noted, "This opportunity comes after several months of discussion with AARP about how best to increase access for millions of Americans to affordable, high quality health care as well as enhanced prevention and wellness programs. Our two organizations have strong brands and excellent reputations, and we share important core values. We are both committed to transparency and social responsibility and to addressing the health care needs of under-served diverse populations. Together, we can make a real difference in health care in America."
Aetna’s offerings under the agreement will provide affordable, comprehensive health care coverage and medical management programs with an emphasis on enhancing the quality and outcome of health care, prevention and wellness. Eligible AARP members will have access to Aetna’s innovative and personalized tools and services to help them and their families make the best health care decisions.
About Aetna
Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 35.9 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
ADDITIONAL INFORMATION; CAUTIONARY STATEMENT -- Certain information in this press release is forward looking, including that Aetna and AARP will enter into mutually satisfactory definitive arrangements regarding a business relationship, the anticipated timing and effect of the transaction. Forward-looking information is based on management’s estimates, assumptions and projections, and is subject to significant uncertainties and other factors, many of which are beyond Aetna’s control. Certain risk factors could cause actual future results and other future events to differ materially from those currently estimated by management. For more discussion of important risk factors that may materially affect Aetna, please see the risk factors contained in Aetna’s 2006 Annual Report on Form 10-K, on file with the Securities and Exchange Commission ("SEC"). You also should read Aetna’s 2006 Annual Report on Form 10-K for a discussion of Aetna’s historical results of operations and financial condition.
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