FEATURED ARTICLES
NEWS
June 23, 1990 | By Jodi Enda, Inquirer Harrisburg Bureau
With little more than a week to go before the heart of a new auto-insurance law takes effect, the fifth-largest insurer in Pennsylvania agreed yesterday to roll back rates to motorists, state officials said. The Aetna Casualty & Surety Co., which previously notified customers that it would not renew their policies under the new law, consented to comply with that law. In return, the Casey administration agreed to consider a whopping 25 percent rate increase that Aetna had planned to put into effect before the new law was passed in February.
BUSINESS
December 11, 1998 | By Josh Goldstein, INQUIRER STAFF WRITER
Aetna Inc., the nation's largest health insurance company, yesterday announced that it will spend $1 billion to acquire Prudential HealthCare, adding 6.6 million subscribers to its membership base. The deal, combined with Aetna's billion-dollar purchase of New York Life Insurance Co.'s health-care business earlier this year, would bring the insurer's membership to 22.4 million people nationwide. With the anticipated completion of the Prudential deal in the second quarter of next year, Aetna U.S. Healthcare said it would become a leading insurer in nine states, including Pennsylvania and New Jersey.
BUSINESS
December 9, 2004 | By Josh Goldstein INQUIRER STAFF WRITER
Aetna Inc. is getting into the behavioral health insurance business. The region's second-largest health insurer said yesterday that on Dec. 31, 2005, it would end its contract with Magellan Health Services Inc., the company that now provides Aetna subscribers with behavioral health coverage to pay for the evaluation and treatment of mental health problems. Aetna also is buying the assets that Magellan used to service the behavioral health insurance needs of more than 10.5 million Aetna subscribers, including access to a network of psychologists, psychiatrists and other providers.
BUSINESS
October 11, 1996 | By Marian Uhlman, INQUIRER STAFF WRITER The Associated Press contributed to this report
Aetna Inc. said yesterday it would whack 4,400 jobs from its national workforce, but spare virtually all 3,000 employees in Blue Bell, where it acquired control of U.S. Healthcare Inc. last summer. Aetna's plan to reduce the number of jobs by 13 percent is largely an outgrowth of the $9 billion merger that created the Aetna U.S. Healthcare division. The total after-tax charge against earnings for the reorganization, which also involves Aetna's retirement services, will be $307 million, according to the company.
BUSINESS
February 3, 1998 | By Matthew Lewis, REUTERS Inquirer staff writer Andrea Gerlin contributed to this article
A rumored takeover of Oxford Health Plans Inc. by Aetna Inc. would make strategic sense, but the timing is problematic, industry analysts said yesterday. Shares of both companies were higher yesterday amid speculation that Aetna will buy Oxford. Aetna shares closed at $76.687, up $3.187, or 4.3 percent, on the New York Stock Exchange. Oxford closed at $17.75, up 25 cents, or 1.4 percent, on the Nasdaq Stock Market. Analysts said Aetna might well opt to focus instead on digesting its July 1996, $8.9 billion acquisition of U.S. Healthcare of Blue Bell.
NEWS
September 10, 2009 | By Stacey Burling INQUIRER STAFF WRITER
President Obama had few nice things to say about insurance companies in his speech on health care last night, but leaders of two of this region's largest private insurers - Independence Blue Cross and Aetna Inc. - gave him generally high marks anyway. Joseph Frick, chief executive officer of the Philadelphia-based Blue plan, which has 3.4 million subscribers, said he found the "call to action refreshing" and agrees the country needs change now. "We're closer to reform than we've ever been," he said.
NEWS
January 9, 1998 | By Andrea Gerlin, INQUIRER STAFF WRITER
The nation's largest health insurer, a pioneer in covering infertility treatment, will eliminate benefits for advanced infertility procedures such as in-vitro fertilization. In a move that has already outraged infertile couples and their doctors, Aetna US Healthcare said it would take the action nationally because it felt an excessive number of members were attracted to its plans for coverage of the expensive treatment. "We had a significant amount of adverse selection," said Arnold Cohen, a doctor and Aetna's corporate medical director for women's health.
BUSINESS
November 2, 2000 | By Susan Warner, INQUIRER STAFF WRITER
Aetna Inc., the parent of Aetna U.S. Healthcare in Blue Bell, said yesterday that higher medical costs drove profits down 14 percent in the third quarter. But the company said it had raised premiums and would pare operations to boost profitability in the coming year. Aetna also said it might take "significant" charges in the fourth quarter to pay for severance to departing employees and other costs of exiting unprofitable markets. Operating profit fell to $158.1 million, or $1.10 a share, in the quarter, down from $184.
BUSINESS
November 7, 1999 | By Karl Stark, INQUIRER STAFF WRITER
Aetna U.S. Healthcare is cutting commissions by 20 percent to 50 percent to independent brokers who sell its health insurance to employers, an action that raises the prospect that the company and its competitors may soon bypass agents altogether and enroll most members directly over the Internet. Aetna considers brokers to be integral to its business, but the Blue Bell insurer is cutting administrative expenses because of the growing convenience of the Internet, company president Michael J. Cardillo said in a speech late last month to 175 brokers and others at American College, a school for insurance professionals in Bryn Mawr.
BUSINESS
March 19, 2000 | By Susan Warner, INQUIRER STAFF WRITER
One was an old-line, process-driven property and casualty insurance company with an established name, and a corporate history so deep that last week it had to apologize for insuring slaves. The other was a go-go entrepreneurial upstart with a fresh strategy based on managed care, a bitten apple for a corporate logo, and a home base in a little-known suburb of Philadelphia. Now, three years after Aetna Inc., the venerable Hartford, Conn., insurer, bought U.S. Healthcare of Blue Bell, the $8.9 billion acquisition seems more like a bite of the forbidden fruit.
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ARTICLES BY DATE
BUSINESS
April 22, 2014 | By Jane M. Von Bergen, Inquirer Staff Writer
Sue Schick, 52, president of UnitedHealthcare Pennsylvania and Delaware, claims she was mortified last month when, in the process of honoring her with the Greater Philadelphia Chamber of Commerce's Paradigm Award, the master of ceremonies read entries from her seventh-grade yearbook. She shouldn't have been. The yearbook showed early evidence of the leadership abilities that prompted the chamber to name her 2014's top female business executive. "In the Girl Scout cookie sales, we didn't think we could surpass the previous year," Schick recalled.
BUSINESS
February 20, 2014 | By Harold Brubaker, Inquirer Staff Writer
After a year's absence, the Kennedy Health System in South Jersey has rejoined the Aetna insurance network under a two-year contract, Kennedy officials said Tuesday. Kennedy terminated its previous Aetna contract in February 2013 because it was losing too much money under Aetna's payment terms, said Gary Terrinoni, Kennedy's chief financial officer. "It was difficult for us to make that decision, because we were concerned about the disruption to our community and to our patients and doctors," Terrinoni said.
BUSINESS
October 3, 2013 | By Harold Brubaker, Inquirer Staff Writer
Aetna Inc.'s rates for Southeastern Pennsylvania on the new federal health-insurance exchange - which stumbled into life Tuesday, tripped up by a too-high volume of potential customers in the early going - are higher across the board than those offered by Independence Blue Cross. Experts cautioned that consumers must assess the details when comparing health-insurance plans and that the size of the hospital and physician network, the level of co-pays for a doctor's visit, and other factors can have a significant impact on monthly premiums.
NEWS
September 18, 2013 | By Don Sapatkin, Inquirer Staff Writer
Aetna Inc. has withdrawn from the insurance exchange marketplace in New Jersey that was set up under the Affordable Care Act, leaving just three participating insurers for the exchange, which opens for enrollment Oct. 1. In a statement last week, the company said the decision was part of its "ongoing review of Aetna's overall company strategy, including the impact of the Coventry [Health Care Inc.] acquisition which closed in May, after the original exchange filings were submitted for both companies.
NEWS
September 6, 2013
TOM SPANN, 54, of Plymouth Meeting, is CEO of Accolade, a Plymouth Meeting company whose professional health assistants help employees at large companies make informed decisions about health care. Spann, a former partner at management-consulting firm Accenture, co-founded Accolade in 2007. It has since grown to $32 million in annual revenues and almost 500 employees, including nurses, pharmacists and doctors. Q: What's the genesis of Accolade? A: I had some experience working with health-care startups at Accenture.
NEWS
August 18, 2013 | By Robert Calandra, For The Inquirer
With new federal rules and mandates, you'd think that health insurers would be beating the loudest drum in the repeal-the-Affordable Care Act band. But they're not, and there are a couple of reasons why. The first is pretty obvious. Millions of uninsured people will be flooding the online exchanges when they open nationwide on Oct. 1, presenting companies with a tremendous opportunity to build their roles and revenues. But that may not be the only reason. Even insured workers may soon be allowed to pick plans over online marketplaces, upending the traditional model of employers knowing best.
BUSINESS
July 18, 2013 | By Curtis Skinner, Inquirer Staff Writer
Three major Philadelphia-area health systems announced a partnership Tuesday to jointly manage the health benefits and care for their tens of thousands of employees. Einstein Healthcare Network, Abington Health and Aria Health unveiled the development of a jointly-run company that will manage insurance and care for their combined 30,000 employees and family members. The three systems combined currently pay premium revenues of about $100 million annually, though how much each system will invest into the partnership has yet to be determined.
NEWS
March 10, 2013 | By Bonnie L. Cook, Inquirer Staff Writer
Daniel F. McGill Sr., 81, of Rhawnhurst, a retired insurance marketing executive with a sense of humor, died Monday, March 4, of cancer at a relative's home in Horsham Township. For 40 years, Mr. McGill worked for Aetna Inc. in Center City. He led the marketing of the firm's products to independent insurance brokerages in the Philadelphia area and South Jersey. Born in Rhawnhurst, he lived there for most of his life before moving in with a daughter last October when his health failed.
BUSINESS
February 18, 2013 | By Harold Brubaker, Inquirer Staff Writer
  When patients insured by Independence Blue Cross are discharged from the hospital, discharge reports are added to medical records at their primary doctors' offices less than 50 percent of the time. It's a common example of the gaps in information-sharing among hospitals, doctors, and others in the health-care system. "A physician caring for a patient is sometimes not aware of all of the care that's been provided, not aware of all the medications the patient is taking, or aware of the lab tests that have been done, or of the results of those tests," said Richard Snyder, chief medical officer at Independence Blue Cross.
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