Health Insurance

Aetna, Inc. is an American wellness indemnification friendship, which is the come up to descendant of Aetna (Fire) redress Company, of Hartford, Connecticut. In 1850 Aetna began doing of an Annuity Fund and the confederacy would currently to be known as Aetna tone damages Company. In 1899 Aetna became one of the first-class honours degree worldly concernly held redress policy policy companies to enter the wellness damages field. Since then Aetna has become perpetrate to providing access to cost-effective wellness criminal master(prenominal)tenance of the highest possible standard, to protect quite a little against wellness- cerebrate pre scarpers and change them to compass two veracious wellness and fiscal security.Aetna has reard such products and function for one hundred fifty geezerhood, and has the ability to be a leader in gradeing a upstanding and effective system of wellness fright by cooperating with wellness c ar captains an d public officials Aetna, Inc. rears a reaching of traditional and consumer order wellness disquiet restitution products and related run, including aesculapian, pharmaceutic, dental, behavioral health, sort out invigoration, considerable-term burster, and hinderance plans, and medical checkup focussing capabilities. Aetna is a appendage of the Fortune 100 Aetna commission & determineOur ships companys mission, values and goals be verbalized finished The Aetna Way. The Aetna Way, comprising the elements be first, encompasses our administerd sense of heading and cans clarity as we pursue our operating(a) and strategic goals Why We Exist The Aetna Mission What We Believe In Our Values What Were Trying to come across How We Run Our personal line of credit Why We Exist The Aetna Mission Aetna is turn to alleviateing spate achieve health and financial security by providing piano access to safe, cost-effective, high-quality health foreboding and protec t their finances against health-related risks.Building on our cl-year heritage, Aetna will be a leader cooperating with doctors and hospitals, employers, patient roles, public officials and others to build a stronger, more effective health administer system. What We Believe In Our Values At Aetna, we put the bulk who use our work at the center of everything we do and live by a core group set of values Integrity prime(a) profit and Value Excellence and duty Employee Engagement What Were Trying to AchieveWe assay to achieve superior knob comfort finished innovative products, comprehensive health and related realises choices, effective service and easy-to-understand development. Our goals ar To give individuals and families affordable reportage choices, accommodating service and information so they bestow the financial protection and health cargon they impoverishment from prevention through continuing and critical dish out. To respect and work in effect with doctors and hospitals by establishing efficient processes and providing prompt claims payments and paying information that helps them give up safe, cost-effective, high-quality health help. To stomach employers advice, cost-effective upbeats choices and programs that improve the health lieu and productivity of their work forces. To partner with brokers and consultants through responsive service, timely information and sweet commissions so they may effectively dismiss employers on their benefits choices. To convolution employees an engaging and diverse work environment that permits them to satisfy their professional ambitions, take pride in their contri thoions and share in Aetnas success. To be a track corporate citizen, improving the quality of life in communities where we live and work. To award shareholders a superior return on their enthronisation in our company. How We Run Our Business ground on our values, which guide our day-to-day activities, we puzzle to specific melodic line practices that help us fulfill our mission, reach our goals, and achieve profitable growth. Plans We build and monitor business plans, winning corrective actions on negative variances. Products We induce and accurately price innovative products. Networks We augment and manage networks of doctors and hospitals to support multiple product and funding choices. Access to Care We run our members access to cost-effective high-quality health care while accurately predicating and managing medical cost. Claims and rush We achieve timely and accurate claims payments and gift billing and collection. Productivity We pursue unremitting productive and process improvement. Service We work together effectively cross the placement to give our customers quality service. Information We provide objective information to help our members harbor informed decisions about heir financial and health care needs. Integrity Achieve financial and operational integrity throug h clear, prompt and reliable information that accurately reflects our financial and operational performance. Rewards We appreciate cause but we recognize and reward employees for achieving business results. Satisfaction We deliver superior customer satisfaction. Porters Five Forces of Competition framework views the favorableness of an perseverance as determined by the five forces of competitive pressure. As set forth be baseborn, only high competitive disputation detracts from the attractiveness of the health insurance policy industry for firms currently in the business. Threat of meekness (Low)Entry into the health insurance industry is stop by high economies of denture, high chapiter requirements, and high government and legal barriers. Economies of scale are needed to establish a collection and claims payment network monstrous enough to provide a probable selection of providers for patients and besides al modest the insurance company to puzzle a extensive geogra phic coverage. Moreover, a double client base is needed to facilitate risk forethought. health insurance companies need to acquit enough patients covered so that they fall in a bun in the oven orotund enough proportion premiums from hygienic patients to cover the costs of taking care of sick patients. in that respect are in like manner wide capital requirement because health insurance companies are required by legality to have a certain meter of reserves available to pay claims at all times. Health insurance companies are withal required by justice to pay out 50-65% of their premiums in medical cost coverage. These government and legal barriers non only determine a large portion of the financing the health insurance companies, they also determine who can rent a health insurance company through licensing. Supplier Power (Low)Suppliers to the health insurance industry involve providers, hospitals, and medical device/pharmaceutical companies. Most suppliers have low pr ice sensibility payable to intense competition to get on a health insurance companies provider list or formulary. Since most people cannot afford medical care without health insurance, health insurance companies provide a product that is critical for a patient to be able to access a suppliers service or product. Additionally, the size of the health insurance company relative to their suppliers tends to be large.Because of their size, health insurance companies purchase health care from hospitals and doctors at a some(prenominal) lower cost than individual patients. Health insurance companies also have bargain power because suppliers are unlikely to have the capital or skills required to unify vertically. Hospitals and providers operate in a low margin business that is always strapped for capital, and pharmaceutical companies dont have the claims processing networks needed in order to provide health insurance. emptor Power (Low) Buyers of health insurance include individuals, e mployers, and linked groups of people like AARP.Buyers tend to have high price sensitivity because health care is a large portion of a buyers total cost, oddly employers. Additionally, products from health insurance companies are not well differentiated. However, buyers have extremely low bargaining power due to their overleap of size relative to health insurance companies, information asymmetry, and inability to vertically integrate. non only can health insurance companies let on negotiate with providers/hospitals for discounted health care rates, but health insurance companies also have far superior fellowship of costs.Doctors and hospitals dont routinely display the prices they charge to patients, but health insurance companies have this information through their contractual relationships with providers. Threat of Substitutes (Low) There are few substitutes for health insurance. Currently, the main choices buyers have are to have health insurance to cover their medical expen ses or pay for health care costs themselves. The high price of medical care, oddly for chronic medical conditions and emergency work, makes world a self-pay patient an unattractive excerpt.Therefore, currently 84% of the US population has every private or government health insurance. However, red-hot substitutes to health insurance are being developed. Cerner, a healthcare IT company, has started to offer claims processing run to customers of its IT products. Competitive challenger (High) Industry competition is high for some(prenominal) reasons. The industry has a low preoccupation with the four largest companies in the health insurance business (Wellpoint, UnitedHealth Group, Aetna, and Health Care Service Corp. accounting for only 25% of the group health insurance premiums written. Additionally, diversity among competitors is low because health insurance companies are heavy regulated. There are strict regulations on how health insurance companies can social organisatio n themselves and what type of products they can or are required to offer. About Aetna Aetna is one of the nations jumper cable diversified health care benefits companies, inspection and repair approximately 36. 1 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 operate, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical trouble capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government- conferrered plans, labor groups and expatriates. For more information, name www. etna. com and Aetnas Annual Report at www. aetna. com/2009annualreport. Aetna Aetna (NYSE AET) has long been a leading health care-oriented insurance company, dedicated to providing people with the means to achieve financial security and peace of mind. By offering employee benefits and long-run care insurance as well as health care, disability, group life, dental, and pharmacy insurance, Aetna uses information and resources to help their members make informed decisions about the types of health care they need.The Aetna insurance company serves both employer and individual markets. Aetna provides benefits to employers in all states, with products and services tailored to employers of sizes, from smaller companies to large matter employers. In some markets Aetna also provides products and services to individuals and Medicare beneficiaries. Aetna is committed to providing access to cost-effective health care of the highest possible standard, to protect people against health-related risks and enable them to achieve both good health and financial security.Aetna has provided such products and services for 150 years, and has the abil ity to be a leader in building a strong and effective system of health care by cooperating with health care professionals and public officials. The primary goal of Aetna is to provide innovative products and uncomplicated information that gives its customers the tools they need to make the best possible insurance choices to safeguard their health and financial security.Two types of health care and dental plans are offered a risk basis plan where the company assumes most or all of the risk of costs, and an employer-funded basis plan, where the plan is sponsored via an administrative services contract. In the latter situation, it is the plan sponsor rather than the company that assumes the risk. By having a variety of choices, Aetna ensures its clients can find an insurance product to match their needs. Another option that Aetna offers its clients is group insurance.Most Group Life products provide renewable term coverage in fixed amounts, or amounts which are related to individual wa ge levels. Group deterioration Insurance consists of income-replacement benefits for both short and semipermanent disability. Long border Care Insurance provides for long-term custodial care expenses in a nursing home, adult day-care quick-wittedness or at home. Aetna also offers crowing Case Pensions, which include several loneliness products, including annuities and pensions, for defined benefit and contribution plans.These provide a variety of options, including experience-rated and both guaranteed and non-guaranteed products. Currently, however, new business is not sought. Aetna provides fully-insured, self-funded (ASO) health care products, including Aetna Global Benefits, Medicare+Choice, Pharmacy, Vision, POS, PPO and HMO. Aetna was the first national health insurance company to offer consumer-directed health plans, and continues to be an industry pioneer with products in the Aetna HealthFundA range.This collection of consumer-directed plans includes Aetna PharmacyFundA, Aetna DentalFundA, and a program for the reimbursement of long-term care premiums. Additionally, Aetna is able to offer coordinated HealthFund products. As of March 31, 2006, Aetna provided medical coverage for more than 15 million members. Aetna also provides dental coverage for more than 13 million members. Aetnaas Group Insurance business provides a competitive range of asset protection and income-replacement products, including Short terminal and Long Term Disability, Managed Disability, Long Term Care, Group Life, and Accidental Death & face-to-face Loss.As a leader in this field, Aetna provides these services for more than 13 million members. Aetna also offers a wide range of employee benefit plans, despite the rising cost of these plans. Aetna offers employee benefit and insurance products and services that help handle costs low while maintaining a consistently high standard of health care. Services include disease management and patient safety programs, case management plans, and integrated medical, pharmaceutical, dental, disability, and behavioral health information. Aetna, Inc. s a diversified health-care benefits and insurance company that provides a wide range of both traditional and consumer-directed health-related products and services. Aetna, Inc. is a direct descendant of the Aetna Insurance Company of Hartford, Connecticut. As such, Aetna has been in the insurance business for more than 150 years. In 1996, Aetna merged with U. S. Healthcare. In the 21st century, Aetna has earned a 100% produce on the Human Rights Campaign incorporate Equality Index three years running, and remains committed to providing excellent health care and insurance benefits in America.