Jump to Aetna: Alerts;
• Aetna has been accused of overcharging college students for their insurance plans.
• Colorado fined Aetna for various infractions including failing to pay claims accurately and on time. • CEO Ron Williams’ compensation in 2008 was $24,300,112 or the equivalent of a full year's salary for 1,611 minimum-wage workers.
-- Profile Updated 09/23/2010
Aetna Inc. is a health insurance company serving approximately 36 million Americans. Aetna offers medical, pharmacy, dental, behavioral health, group life and disability insurance plans, and medical management capabilities. Customers include employer groups, individuals, college students, part-time and hourly workers, health plans and government-sponsored plans.
Chairman and Chief Executive Officer: Ronald A. Williams
2009 Revenue: $34.679 billion
There are no known affiliates associated with Aetna.
Hartford, CT 06156 United States
Ethics and Governance
According to Aetna’s “Choosing to Make a Difference” outline, their employees have logged 300,000 hours of community service, and the company contributed $25 million in grants and scholarships.
-- Aetna, 08/02/2010
As of May 16, 2010, Aetna has donated $77,000 to the Democratic party and $97,250 to the Republican party for the 2010 mid-term elections.
-- Open Secrets, 05/16/2010
Two Aetna branches were fined a total of $624,000 for violations regarding incorrect or missing information in policy forms, for providing incomplete information, and failing to pay claims accurately and on time. The fines were decided by the Colorado Division of Insurance. Both branches are required to provide a plan on how to solve these issues.
-- Bizjournals.com, 03/19/2010
Ron Williams, the CEO of Aetna, earned $24,300,112 in 2008. This is the equivalent to what 1,611 minimum-wage workers would have earned during the same period of time.
-- AFL-CIO, 03/10/2010
Aetna cancelled a customer’s health insurance because of insufficient payment of $64. This occured when the cost of the premium was raised without the customer being informed. As a former cancer patient, Stacey Owens is dependant on health insurance and until this occasion she always paid the correct amount of money on time to Aetna. Aetna refused to help correct the mistake. Only after involvement from the media did Stacey Owens manage to get her insurance back, at the cost of an extra $1,900 to avoid lapses in health insurance.
-- Los Angeles Times, 01/17/2010
Aetna has agreed to return $5 million to college students who were overcharged by their Aetna insurance plans. 73,000 college students will soon be reimbursed for being charged outdated rates. If you believe you are part of the affected group, you can contact an Aetna customer service representative at 866-805-7643.
-- The Consumerist, 02/09/2009
Aetna received a rank of 30 on The 2010 DiversityInc top 50 list, which was a demotion of 18 places from their number 12 standing the year before.
-- DiversityInc., 03/23/2010
Aetna received a score 100 out of 100 on the 2009 Corporate Equality Index rating by Human Right Campaign, which looks at companies treatment of and policies towards their LGBT employees.
-- Human Rights Campaign, 12/31/2009
Health and Safety
The Health Care Quality Report, published annually by the California Office of the Patient Advocate, is a measurement and rating on how well a medical group provides care and services to its patients and how the patients rate it. In the 2010 ranking Aetna scored three stars out of three possible on both Meeting National Standards of Care and Members rating of HMO (Health Maintenance Organization).
-- California Office of the Patient Advocate, 01/01/2010
Source URL: www.opa.ca.gov/report_card/hmorating.aspx
According to its sustainability report, Aetna uses recyclable cooler boxes to ship its temperature-sensitive medications. Additionally, Aetna claims to be making an effort to reduce their carbon footprint by reducing employee driving by 65 million miles.
-- Aetna, 05/01/2010
Aetna is on The 2009 Newsweek Green Business list, ranked 330 out of 500. The measurement for this ranking includes an overall environmental score, environmental impact score, green policies and performance score as well as a reputation survey score.
-- Newsweek, 12/31/2009