|FOR IMMEDIATE RELEASE
Frank Public Relations
Peggy C. Frank, MBA
KEENAN AND AETNA JOIN TO PROVIDE CALIFORNIA EMPLOYERS WITH A CONSUMER-DIRECTED HEALTH BENEFITS SOLUTION
ConsumerAdvance combines Aetna HealthFund with value-added features to deliver a specialized health benefits package for California public schools and health care organizations
TORRANCE, Calif., July 16, 2004 – Aetna and Keenan today announced an arrangement to jointly offer consumer-directed health plans to employers in California. Through this alliance Aetna’s flagship consumer-directed product, Aetna HealthFund, will be combined with additional informational and administrative tools that will enhance the functionality of the product for specific California employers including public schools and health care organizations. The new product package, called ConsumerAdvance, is being offered for an effective date of October 1, 2004.
Sean Smith, CEO of Keenan, says, “The hallmark of Keenan’s three decades of service to our California-based clients is our keen ability to survey the marketplace for innovative and cost-effective ways to bring new products and services to our customers. Through our alliance with Aetna, and the new ConsumerAdvance product, we feel confident that we have developed a consumer-directed health plan product package that will be enthusiastically and successfully embraced by our customers.”
In addition to easy-to-access consumer tools, information and personalized support, all provided via the Aetna Navigator member website (www.aetnanavigator.com), employers who select ConsumerAdvance will also have exclusive access to a web-based human resource tool kit, self-serve member enrollment and access to discounted ancillary services.
Beth Andersen, Aetna general manager, middle market accounts, West Region, says, “Through our alliance with Keenan, Aetna is excited to be able to provide this product innovation to schools, community colleges and health care providers in order to reach more employers and members with our consumer-directed Aetna HealthFund product. The additional administrative enhancements available with the ConsumerAdvance package will further empower employers and members to make informed decisions and better control their health care dollars.”
Aetna provides ConsumerAdvance with fully and self-insured product options; one of the largest networks of physicians, hospitals, pharmacies and health professionals in the industry; extensive experience in claims payment and administration of innovative health benefits; and the company’s powerful online resources and self-service tools.
Henry Loubet, chief strategy officer for Keenan, says, “Keenan recognizes that the consumer-directed health plan model has extraordinary potential for many of our clients. In creating ConsumerAdvance, we consulted with the experts in the consumer-directed field and researched the ‘best in class’ consumer choice products available today. We are pleased to align with Aetna to bring our consumer-directed health plan package to the marketplace.”
Explains Loubet, “ConsumerAdvance is a key solution for improving consumer awareness and education, modifying purchasing behavior, and moderating long-term cost trends, using approaches that employees will be more receptive to over time, than traditional cost-shifting and benefit reduction measures.
Founded in 1972, Keenan is the 24th largest insurance brokerage firm in the United States, and the largest independent broker in California. Keenan is dedicated to providing superior insurance products and services to schools, community colleges, municipalities, and healthcare organizations that include employee benefits, third-party claims administration, workers' compensation, integrated disability, risk management, and property and liability. Keenan has a network of offices located throughout California and a staff of more than 550 insurance specialists. For more information, call 1-800-654-8102, 1-310-212-3344 or email firstname.lastname@example.org. Visit our web site at www.keenanassoc.com.
About Aetna HealthFund
Aetna launched its first-generation Aetna HealthFund Health Reimbursement Arrangement (HRA) product in September 2001. Since that time, the Aetna HealthFund family of products has expanded to include a wide variety of fund and account options meeting the unique needs of employers of all sizes. These choices include the Aetna HealthFund Health Savings Account (HSA), Aetna HealthFund Retiree Reimbursement Account (RRA), Aetna HealthFund Flexible Spending Account (FSA) and Aetna HealthFund First Dollar.
As one of the nation’s leading providers of health care, dental, pharmacy, group life, disability and long-term care benefits, Aetna puts information and helpful resources to work for its approximately 13.3 million medical members, 11.2 million dental members, 8.1 million pharmacy members and 12.4 million group insurance members to help them make better informed decisions about their health care and protect their finances against health-related risks. Aetna provides easy access to cost effective health care through a nationwide network of more than 618,000 health care professionals, including over 370,000 primary care and specialist doctors and 3,783 hospitals. For more information, please visit www.aetna.com.
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For more information: http://www.keenanassoc.com