Aetna Signature Administrators and CoreSource Extend Relationship
August 25 2011 - 7:59AM
Business Wire
Aetna (NYSE: AET) has extended its contract with CoreSource, one
of the nation's leading administrators of self-insured employee
benefit plans. The agreement will provide CoreSource’s customers
and members with access to Aetna’s broad national PPO network.
Through its Aetna Signature Administrators (ASA) business, Aetna
has established strong relationships with a select number of
third-party administrators (TPAs) to provide their self-insured
customers with a number of services including network services and
management, stop loss insurance, and medical management.
“With health care reform, we expect the employer market for
self-insured health plans to expand over the next several years.
Our partnership with CoreSource complements our strategy to compete
effectively and extend our reach in this space,” said Ralph
Borzillo, Vice President of Aetna Signature Administrators.
“CoreSource has been an Aetna Signature Administrator since 2004
and, as our largest TPA relationship, has been integral in helping
us achieve growth in the self-insured space. The contract extension
demonstrates our long term commitment to our relationship with
CoreSource as an Aetna Signature Administrator.”
Aetna Signature Administrators (ASA) works with leading TPAs to
provide network and medical management services that complement the
TPA’s administrative capabilities. Aetna provides Stop Loss
insurance coverage for the employer group, handles claims pricing,
contracts with plan sponsors to provide access to the PPO network,
provides network services and management, resolves contract issues,
and oversees large case medical management. The TPA, in turn,
handles sales, client management, claims processing, provides
customer service, designs plans, and manages precertification using
Aetna standards and approved criteria.
“We’re pleased to be able to provide our customers and members
with access to Aetna’s broad national PPO network,” said Nancy
Eckrich, President and CEO of CoreSource. “Health care reform is
driving greater interest in self-insured plans. Aetna’s ability to
provide access to quality doctors, hospitals, and medical
management, all at an affordable price, allows us to meet the
unique needs of the post-reform marketplace.”
About Aetna
Aetna is one of the nation’s leading diversified health care
benefits companies, serving approximately 36.5 million people with
information and resources to help them make better informed
decisions about their health care. Aetna offers a broad range of
traditional, voluntary and consumer-directed health insurance
products and related services, including medical, pharmacy, dental,
behavioral health, group life and disability plans, and medical
management capabilities and health care management services for
Medicaid plans. Our customers include employer groups, individuals,
college students, part-time and hourly workers, health plans,
governmental units, government-sponsored plans, labor groups and
expatriates. For more information, see www.aetna.com.
About CoreSource
CoreSource is one of the nation's leading TPAs, delivering
integrated, customized employee benefit solutions to self-funded
employers. The company maintains claims and customer service
offices in Baltimore; Charlotte, N.C.; Chicago; Columbus, Ohio (NGS
CoreSource); Detroit (NGS CoreSource); Kansas City, Kan. (FMH
CoreSource); Lancaster, Penn.; and Little Rock, Ark. CoreSource
utilizes cutting-edge products and services designed to facilitate
effective cost-containment strategies. For more information, visit
www.coresource.com.
Aetna (NYSE:AET)
Historical Stock Chart
From Apr 2024 to May 2024
Aetna (NYSE:AET)
Historical Stock Chart
From May 2023 to May 2024