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. -- Aetna (NYSE NYSE See: New York Stock Exchange : AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) and AARP AARP, a nonprofit, nonpartisan national organization dedicated to "enriching the experience of aging"; membership is open to people age 50 or older. Founded in 1958 by Ethel Percy Andrus as American Association of Retired Persons, AARP now has over 30 million 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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 (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. 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 per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. 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 diversified (di·verˑ·s 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 pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. , dental, behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or , group life and disability plans, and medical management capabilities. Our customers include employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. , 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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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