Regulators Remove Restrictions On Aetna’s Medicare Sales
The sanctions had blocked Aetna Inc. from marketing Medicare plans and enrolling new beneficiaries. Now that they have been lifted, Aetna has indicated it will again promote its Medicare Advantage offerings.
The Wall Street Journal: Aetna Says U.S. Regulators Lift Sanctions Blocking Medicare Sales
The removal of the restriction imposed by the Centers for Medicare and Medicaid Services last April is important as Aetna, like other carriers, seeks to bulk up its presence in the Medicare category. Aetna said it will immediately resume promoting its offerings under Medicare Advantage, the private-plan version of the program that covers the elderly and disabled, and the prescription drug benefit. The company will begin enrolling new beneficiaries with effective dates beginning July 1. Aetna currently has around one million Medicare Advantage and drug-plan beneficiaries, and will now be able to compete for new ones during Medicare's autumn open-enrollment period (Wilde Mathews, 6/13).
The Associated Press: Aetna Buys Genworth Financial Business For $290 Million
Aetna Inc. said Monday it will buy the Medicare supplement business of Genworth Financial Inc. for about $290 million, as it becomes the latest health insurer to announce a plan that capitalizes on the aging baby boomer population (Murphy, 6/13).