A.M. Best Affirms Ratings Of Seven Aetna U.S. Healthcare HMOs.OLDWICK, N.J.--(BUSINESS WIRE)--July 14, 1997--Effective immediately, A.M. Best Co. has affirmed the Best's Ratings of seven Aetna U.S. Healthcare U.S. Healthcare is a now-defunct healthcare company. The logo had an apple. The merger with Aetna In 1996, the company merged with Aetna, calling it Aetna U.S. Healthcare. The U.S. Healthcare apple logo was next to the Aetna name, and U.S. Healthcare under it. U.S. health maintenance organization operating entities. The ratings reflect their strong earnings and market positions in the greater New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Philadelphia metropolitan areas and New Jersey, as well as their roles as strategic subsidiaries of Aetna U.S. Healthcare Inc. The ratings also reflect Aetna U.S. Healthcare's strong national brand name, its excellent medical quality and medical management programs and the considerable financial backing from the ultimate parent, Aetna, Inc. Most of Aetna U.S. Healthcare's HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, membership is concentrated in its New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and Pennsylvania plans. At the end of 1996, Aetna U.S. Healthcare serviced approximately 4.3 million HMO members. Continued growth in membership has been achieved through expanded service areas, flexible product offerings and access to quality health care, as measured by customer satisfaction and other industry criteria. In addition to the strong HMO operations in the Northeast and Mid-Atlantic regions, the company operates HMOs in another 20 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Aetna U.S. Healthcare also serves about 9.9 million members through its point-of-service plans, preferred-provider organizations and managed indemnity plans, on both an insured or self-insured basis. In addition, the company provides a variety of other managed health-care services, including workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. programs, quality measurement and improvement programs and data analysis systems for health-care providers and purchasers. The HMO operations continue to produce strong earnings despite intense competition in its markets. Future earnings from the HMO operations will be used to service the debt at the parent holding company. Aetna U.S. Healthcare faces growing competition in its established and expansion markets. Nevertheless, it is well positioned to continue as a leading health-care organization. The ratings affirmed for Aetna U.S. Healthcare HMO subsidiaries are: United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Health Care of Pennsylvania Inc., "A+" (Superior); Health Maintenance Organization of New Jersey Inc., "A+" (Superior); U.S. Healthcare of New York Inc., "A+" (Superior); U.S. Healthcare Inc. (a Delaware Corporation), "A" (Excellent); U.S. Healthcare Inc. (a Connecticut Corporation), "A" (Excellent); U.S. Healthcare Inc. (a Massachusetts Corporation), "A" (Excellent); and U.S. Healthcare of Georgia Inc., "A-" (Excellent). In addition, A.M. Best recently affirmed the "A" (Excellent) rating of Aetna Life Insurance Co. and the "A+" (Superior) rating of Aetna Life Insurance & Annuity Co. Aetna Life Insurance Co.'s rating reflects its role as one of the principal operating entities of Aetna Inc. The company supports the marketing efforts of the HMO operations by providing point-of-service plans, preferred-provider organizations and traditional indemnity coverages on both an insured and self-funded basis. Its product portfolio also includes significant blocks of group life business, long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. , disability and dental coverage. The rating of Aetna Life Insurance & Annuity Co. reflects its strong position in the tax-deferred annuity tax-deferred annuity See tax-sheltered annuity (TSA). market, the strength and diversity of its distribution sources, its conservative management strategies and sound risk-adjusted capitalization. It also acknowledges the excellent quality of its asset base and the company's expertise in asset/liability management Asset/Liability Management A technique companies employ in coordinating the management of assets and liabilities so that an adequate return may be earned. Also known as "surplus management. . A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. CONTACT: Jeffrey Dunsavage, 908/439-2200, ext. 5618 dunsavj@ambest.com |
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