The insurers keep growing with adding more subsidiaries and earlier this year Aetna purchased Coventry insurance. It really is getting to be difficult to see where your bottom line dollar gets spent anymore. Here’s a couple SEC pages (and here) and I don’t they are complete with listing all of the companies they own. A couple weeks ago I wrote about the growing footprint of United Healthcare in the UK and by the way as of April a United Healthcare executive will be leaving the US to run the NHS.
Cerner and United Healthcare Foot Prints Grow In the UK And Worldwide With Medical Records and “Math Modeled Analytics” Built To Increase Profits–Some Seem To Overlap In Some Business Areas
Go where the money is seems to be the calling. Earlier this year Aetna pulled out of the California individual policy market which was not very popular among doctors here anyway as it was at the bottom of the barrel for reimbursement so many in network were MDs right out of school getting started. This is worth a mention here as policy holders got a nice unwanted surprise for their last quarter of premiums, a 19% increase.
Aetna Who Is Leaving the California Individual Health Insurance Market at the End of the Year Jacks Up Policies 19% for the Remaining 3 Months And Withdraws From Participation in the Connecticut, Maryland and Georgia Exchanges
Also at the beginning of this year there was the $120 Million dollar suit where Aetna got off cheap I think with their participation with licensing the United Healthcare Ingenix analytics for almost 15 years and paid doctors and hospital short on out of network charges. Aetna was not alone as Blue Cross, Blue Shield, Humana, and Health Net also have lawsuits and had licensed the software from United Healthcare/Ingenix so one good reason to “always” be a skeptic on their analytics for sure. No dollar value was given for the purchase of InterGlobal. BD
Aetna Payment of $120 Million To Settle 15 Year Ingenix/United HealthCare Out of Network Erroneous Payment Algorithms Cuts Income for 4th Quarter
HARTFORD, Conn. -- Aetna Inc. plans to broaden its international reach with the acquisition of InterGlobal, a British company that offers private medical insurance for groups and individuals in the Middle East, Asia, Africa and Europe.
The Hartford, Conn., health insurer did not reveal terms of the deal on Monday. It expects to complete the acquisition in the first half of next year and said it should be neutral to Aetna's 2014 results.
Aetna covers more than 22 million people as the third-largest health insurer in the United States. It also runs an expatriate business that provides medical, dental and vision coverage, among other forms of insurance to people living overseas.