Profile: Aetna Inc (AET)
23 Mar 2018
Aetna Inc., incorporated on December 20, 1982, is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. The Company offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers' compensation administrative services and health information technology (HIT) products and services. Aetna Life Insurance Company is the subsidiary of the Company.
The Health Care segment consists of medical, pharmacy benefit management services, dental, behavioral health and vision plans offered on both an insured basis and an employer-funded basis, and emerging businesses products and services, such as administrative services contract (ASC). It offers Medicare and Medicaid products and services and other medical products, such as medical management and data analytics services, medical stop loss insurance, workers' compensation administrative services and products that provide access to its provider networks in selected geographies.
The Health Care Segment offers point-of-service (POS), preferred provider organization (PPO), health maintenance organization (HMO) and indemnity benefit (Indemnity) plans. Its commercial medical products include health savings accounts (HSAs) and Aetna HealthFund, consumer-directed health plans that combine traditional POS or PPO and/or dental coverage, subject to a deductible, with a benefit account, which may be funded by the plan sponsor and/or the member in the case of HSAs.
The government medical offers Medicare Advantage plans, Medicare Supplement plans and prescription drug coverage for Medicare beneficiaries; participate in Medicaid and subsidized children's health insurance programs (CHIP), and participates in Duals demonstration projects. The dental products offer managed dental plans on an Insured and ASC basis. Its behavioral health and employee assistance products provide members experiencing stress, depression and other types of mental health related illness with integrated behavioral health benefit administration, and access to a network of providers and wellness programs. Through its First Health and Cofinity products, it provides access to healthcare provider networks to other insurance companies, third-party administrators, health plans and employers.
The stop loss offers medical stop loss insurance coverage for certain employers electing to self-insure their health benefits. Its workers' compensation administrative services products and services consist of fee-based, managed care services, such as provider network access, cost containment services, pharmacy benefit management, durable medical equipment and ancillary services, and care management services to underwriters and administrators of workers' compensation insurance. The consumer health and services products include pharmacy, advanced provider models (APM), ActiveHealth management and Medicity.
The Company offers pharmacy benefit management services and mail order pharmacy services to its members. Its pharmacy fulfillment services are delivered by Aetna Specialty Pharmacy (ASP) and Aetna Rx Home Delivery. ASP dispenses specialty medications and offers certain support services associated with specialty medications. Aetna Rx Home Delivery provides mail order prescription drug services. Through the use of its CareEngine system, its ActiveHealth Management products provide evidence-based medical management and data analytics products and services to a range of customers, including health plans, employers and others. Medicity is a health information exchange company and a component of its APM and a provider of enablement solutions. Medicity offers a set of solutions for physicians, hospitals and other healthcare providers.
The Company is developing a portfolio of products and tools, including bswift and iTriage. Its bswift provides benefit administration technology and services to employers, streamlining the benefits process. The iTriage application gives smart phone and computer users' access to a symptom navigator, which assists users in finding nearby health facilities or physicians that could enable with their specific health issue. The Company contracts with physicians, hospitals and other healthcare providers for services they provide to its members.
The Group Insurance segment includes group life insurance and group disability products. Its products are offered on an Insured basis. Its products are offered to employers on both an Insured and an ASC basis. It also includes long-term care insurance products. Its life insurance products consists of group term life insurance, the amounts of which may be fixed or linked to individual employee wage levels. It also offers voluntary spouse and dependent term life insurance, and group universal life and accidental death and dismemberment insurance.
Disability products provide employee income replacement benefits for both short-term, long-term disability, and products, which combine both. It offers disability benefits on both an Insured and employer-funded basis. It also provides absence management services to employers, including short-term and long-term disability administration and leave management. Its long-term care insurance products provide benefits to cover the cost of care in private home settings, adult day care, assisted living or nursing facilities.
Large Case Pensions
The Large Case Pensions segment manages a range of retirement products, including pension and annuity products primarily for tax-qualified pension plans. Its products that use separate accounts provide contract holders with a vehicle for investments under, which the contract holders primarily assume the investment risk.
The Company competes with UnitedHealth Group Incorporated, Anthem, Inc., Humana Inc., Cigna Corporation, WellCare Health Plans, Inc., Centene Corporation, Molina Healthcare, Inc., Kaiser Permanente, Original Medicare and Ingenix, Inc.
151 Farmington Ave
HARTFORD CT 06156-0001
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