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16-September-2008 16:15:16 - Aetna For other uses, see Aetna disambiguation. Aetna Inc. Image:Aetna logo.png Type Public NYSE: AET Founded 1853 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 ▲$27.6 billion USD 2007 Net income ▲$1.702 billion USD 2006 Employees 35,258 2008 Website www.aetna.com Aetna, Inc.NYSE: AET 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. Aetna is a member of the Fortune 100. It has been suggested that U.S. Healthcare be merged into this article or section. Discuss Contents 1 History 2 Operations 2.1 Members 3 Key people 4 See also 5 External links History The Aetna building in Hartford The Aetna building in Hartford Aetna is the direct descendant of Aetna Insurance Company, of Hartford, Connecticut, which issued its first life insurance policy in 1850. 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 1998, Aetna bought NYLCare Health Plans for $1.05 billion, adding 2.2 million members,1. 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, 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 2 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, primarily through employer-paid fully or partly insurance and benefit programs, and through Medicare. Membership numbers: 3 as of March 31, 2008 17.467 million - medical members 14.166 million - dental members 10.951 million - pharmacy members 13.609 million - group insurance members 843,000+ - health-care professionals 490,000+ - primary-care doctors and specialists 4,919 - hospitals 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. Dr. Rowe remained Executive Chairman until he retired at the end of 2006. 4 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 See also Managed health care External links Aetna corporate website, with a brief company history. Retrieved from http://en..org/wiki/Aetna Categories: Companies listed on the New York Stock Exchange | Companies established in 1850 | Companies based in Hartford, Connecticut | Insurance companies of the United States | Health maintenance organizations | Dental companiesHidden category: Articles to be merged since April 2008 Views Article Discussion this page History Personal tools Log in / create account Navigation Main page Contents Featured content Current events Random article Search Go Search Interaction Community portal Recent changes Contact Donate to Help Toolbox What links here Related changes Upload file Special pages Printable version Permanent link Cite this page Languages Deutsch Français 한국어 Bahasa Indonesia Română This page was last modified on 27 July 2008, at 23:1
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