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Encyclopedia > Aetna
Aetna Inc.
Type Public (NYSEAET)
Founded 1850
Headquarters Hartford, Connecticut, USA Flag of the United States
Key people Ronald A. Williams: Chairman and CEO
Mark T. Bertolini: President
Industry Health Care Plans
Products Health Care Plans
Revenue $25.146 billion USD (2006)
Net income $1.702 billion USD (2006)
Employees 27,820 (2006)
Website www.aetna.com

Aetna, Inc.(NYSEAET) is an American diversified health care benefits company, providing a range of traditional and consumer directed health care insurance products and related services, including medical, pharmacy, dental, behavioral health, group life, long-term care, and disability plans, and medical management capabilities. it is a Fortune 100 member. Image File history File links No higher resolution available. ... This article does not cite any references or sources. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... For the game, see: 1850 (board game) 1850 (MDCCCL) was a common year starting on Tuesday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Sunday [1] of the 12-day-slower Julian calendar). ... Nickname: Location in Hartford County, Connecticut Coordinates: , Country United States State Connecticut NECTA Hartford Region Capitol Region Named 1637 Incorporated (city) 1784 Consolidated 1896 Government  - Type Mayor-council  - Mayor Eddie Perez Area  - City  18. ... Image File history File links This is a lossless scalable vector image. ... Ronald Allen Williams is the Chief Executive Officer of Aetna corporation. ... For the tax agency in the United Kingdom of the same name, see HM Revenue and Customs. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... A physician visiting the sick in a hospital. ... This article or section is in need of attention from an expert on the subject. ... The Fortune 500 is a ranking of the top 500 United States corporations as measured by gross revenue. ...

Contents

History

Aetna is the direct descendant of Aetna Insurance Company, of Hartford, Connecticut, which issued its first life insurance policy in 1850. Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ... Nickname: Location in Hartford County, Connecticut Coordinates: , Country United States State Connecticut NECTA Hartford Region Capitol Region Named 1637 Incorporated (city) 1784 Consolidated 1896 Government  - Type Mayor-council  - Mayor Eddie Perez Area  - City  18. ... Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the policy owners death. ...


In 1867, Aetna issued its first farm mortgage loan. By 1924, Aetna had $94 million, representing 43 percent of its assets, invested in farm mortgages. It ended this line of business in 1947.


In 1960, the company expanded outside the U.S., buying a Canadian company, Excelsior Life Insurance Company. In 1968, it bought a majority interest in Producer's and Citizen's Cooperative Assurance Company, of Sydney, Australia. In 1981, it bought a 40 percent interest in two Chilean companies, and soon thereafter invested in ventures in England, Spain, Hong Kong, Taiwan, Indonesia and Korea.


In 1991, Aetna stopped selling individual health policies, ending a 91-year-old line of business. In 1996, it sold its property-casualty operations to Travelers Insurance Group for $4 billion.[1] That same year, it merged with U.S. Healthcare. [2] This article does not cite any references or sources. ...


In 1998, Aetna bought NYLCare Health Plans for $1.05 billion, adding 2.2 million members,[3]. The next year, it bought Prudential HealthCare for $1 billion, making it the largest provider of health benefits in the U.S., with more than 21 million members.


In 2000, Aetna sold its financial services and international businesses to ING for $7.7 billion, spun off its health business to its shareholders, thus focusing its business as an independent health and group benefits company, Ing can refer to one of the following: In Old English tradition and as supposed eponymous ancestor of the Ingaevones (as well as the rune ᛜ/ᛝ named after him) see Yngvi. ...


In 2002, Aetna agreed to streamline communications, reduce administrative complexity, and improve the quality of the health care system, ending litigation between Aetna and 700,000 physicians and medical societies. The agreement also resulted in establishment of an independent foundation (Physicians’ Foundation for Health Systems Excellence) to focus on critical health care issues [4] and a physicians’ advisory board.


Operations

In 2005, the company had $1.1 billion in earnings.


Members

Aetna provides health care, dental, pharmacy, group life, disability, and long-term care insurance and employee benefits, primarly through employer-paid (fully or partly) insurance and benefit programs, and through Medicare. Membership numbers: [5]

  • 14.65 million — medical members
  • 13.03 million — dental members
  • 9.34 million — pharmacy members
  • 13.68 million — group insurance members
  • 700,000+ — health-care professionals
  • 418,000+ — primary-care doctors and specialists
  • 4,231 — hospitals

Evaluations by others

Aetna received a 100% score on the Human Rights Campaign Corporate Equality Index in 2002, the first year of the survey, as did 11 other companies. It has maintained this rating in 2003 and 2004. HRC logo The Human Rights Campaign (HRC) is one of the largest lesbian, gay, bisexual, and transgender (LGBT) equal rights organization in the United States. ...


Key people

It was announced on January 4, 2006 that Mr. Ronald Williams would succeed Dr. John W. Rowe as CEO as of February 14, 2006. Rowe will become Executive Chairman until he retires at the end of 2006. [6] is the 4th day of the year in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... is the 45th day of the year in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ...


On July 24, 2007 it was announced that Mark Bertolini, Executive Vice President of Business Operations, would serve as President of Aetna.

  • Ron Williams - Chairman and CEO
  • Mark T. Bertolini - President
  • Meg McCarthy - Senior Vice President and Chief Information Officer
  • William H. Donaldson - Former Chairman and Chief Executive Officer

Ron Williams is the President of Aetna corporation. ... William H. Donaldson William H. Donaldson is currently chairman of the United States Securities and Exchange Commission (SEC). ...

See also

In health care, managed health care is the idea that the service that is provided by a hospital ooup of clinics may be managed by an external company. ...

External links


  Results from FactBites:
 
Ace v. Aetna Life Insurance Company (6117 words)
Aetna removed the case to federal court pursuant to 28 U.S.C. The jury ruled for Ace on her bad faith claim and awarded her $27,009 for the wrongful denial of disability benefits and $100,000 for emotional distress.
Aetna representatives advised her that although her policy required her to be "under the care of a physician," the physician need not be a specialist.
Aetna appeals the denial of a new trial on the award of "emotional distress" damages, asserting that the district court erred by failing to instruct the jury that a plaintiff seeking emotional distress damages must prove that her distress was "severe" before any damages may be awarded.
  More results at FactBites »

 
 

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