Aetna Affirms 2008 Outlook After Rocky HMO Week
NEW YORK (Reuters) - Aetna Inc (AET.N) on Friday affirmed its 2008 profit outlook following a rocky week for health insurers, including profit warnings from two rivals.
Medical cost trends are emerging in alignment with the company's expectations, Chief Financial Officer Joseph Zubretsky said during the No. 3 health insurer's investor day.
WellPoint Inc (WLP.N), the largest U.S. health insurer by membership, on Monday cut its 2008 earnings forecast, citing high medical costs, weak enrollment and a worsening economy.
Humana (HUM.N) on Wednesday slashed its first-quarter forecast by almost half, blaming high drug costs in its Medicare prescription plan.
The S&P Managed Healthcare index .GSPHMO, which includes the six largest U.S. health insurers, has fallen some 17 percent since WellPoint's announcement.
(Reporting by Lewis Krauskopf, editing by Mark Porter)
