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Aetna: Sanctions for Blocking Medicare Sales Lifted by U.S. Regulators


Monday, June 13th, 2011
News

 

The regulation that restricts health insurance companies from marketing their medical plans and acquiring new beneficiaries have been lifted by the U.S. Federal Regulators. This restriction was implemented by the Centers for Medicare and Medicaid Services in April. Aetna Inc resumes the promotions of their Medicare Advantage as soon as they heard about the good news. The Medicare Advantage of Aetna offers a private-plan program that scopes the prescription drug benefit and the elderly and disabled.  Aetna Inc will be enrolling new beneficiaries starting July 1. Aetna was not able to cope with the prerequisites to ensure that the elderly could continuously have their medications during the modifications to the Aetna Plans from 2009-2010.

 

            Presently, Aetna has about one million beneficiaries of their drug plan and Medicare Advantage, and will be capable to go against other health insurance companies during the open-enrollment period.

 

            Aetna is expressing their interest in acquisitions that would enhance its presence in the health insurance industry. The firm also stated on Monday, that they acquired Genworth Financial Inc for $290 million. Genworth is on the Medicare supplement business and Medicare supplement plans which are not covered by the sanctions. The company offer defense against the other expenses in the program. There are 145,000 members under the program of Genworth. 

 

 



Article by Gemmie

The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com



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