In 1850, Aetna Insurance Company formed an Annuity Fund to sell life insurance. The Annuity department detached from Aetna Insurance and is joined with Aetna Life Insurance Company. Aetna starts off by offering participating life insurance policies. This product …show more content…
It was not until the turn of the century when larger insurance companies enter the field with sales forces spreading risk and health insurance becomes a sector of the industry. The new product was offered only to individuals buying an Aetna life or accident policy where it intended to be anything more than a turnoff to the sales of the other two lines. This swift growth gave the financial stability and resources needed to encounter the stringent requirements placed on life companies in Massachusetts and New York.
Many impacts of health care reform will not be known for the next several years. Other important risk factors contain adverse changes in health care reform and federal/state government policies or regulations as a result of health care reform. There are legislative, judicial, or regulatory measures that affect our business model restricting funding and amending various aspects of health reform.
Major health plans continue to improve and accomplish growth strategies that center on health and wellness solutions to speak on improvements in quality and costs. Insurers are redefining themselves to get full advantage of a market that is positioning from single products to more integrated and comprehensive …show more content…
Aetna sent a comment letter following the proposed regulation expressing concern that transferring to the 3:1 rate band restriction suddenly in 2014 could cause considerably higher premiums and consumer rate shock. A proposed rule gets out the requirements for acceptable health promotion and disease prevention programs that affect all insured and self-funded group health plans. Under the proposed wellness program rule, a health plan is allowed to provide a reward or incentive such as premium discounts or rebates to cost sharing or members who stick to health promotion and disease prevention programs. Aetna has been an active leader in developing ACOs. We are working with many hospital systems, independent delivery networks (IDNs), and groups of physician practices interested in becoming ACOs in their neighborhoods as a way to expand the quality and efficiency of patient care for broader populations. Physician comment is an essential factor to a successful ACO. The key elements of an ACO are varied and evolving. The first factor is to assume accountability for the health care and health outcomes for a defined patient population. The second factor is to employ advanced health information technology that continuously collects, connects and shares patient