Voluntary Plans Add Innovative Approach to Consumer Directed Health Plans

Dec 12 2013
Dateline City:
HARTFORD, Conn.

Aetna program makes it easier to enroll & transition to consumer direct health plan

HARTFORD, Conn.–(BUSINESS WIRE)–Aetna (NYSE: AET) announced today a new strategy to help employers and their employees reach the full value of a consumer directed health plan (CDHP). Called the CDHP Accelerator, the strategy combines CDHPs with voluntary products. The CDHP Accelerator provides greater financial protection once the member has reached certain limits on their high-deductible health plan.

“We have seen that greater CDHP participation leads to greater employee engagement, which can lead to better health outcomes as well as cost savings for both employers and employees,” said Jeff Brown, head of Aetna Voluntary Plans. “With the right combination of voluntary benefits we can make the transition easier for consumers.”

Over the last nine years, Aetna has studied the impact CDHPs have on health and health care costs. Aetna’s studies show that employees who switch from a PPO to a CDHP can save, on average, $350 per year. 1 Employers can see cost savings as well.

CDHP participants are also more engaged in their own health care – they are twice as likely as PPO members to complete a health assessment and 30 percent more likely to participate in a disease management program. 2

Combining a CDHP with voluntary financial protection plans – like Hospital Indemnity, Critical Illness or Accident –provides additional financial protection if someone experiences an unexpected illness or hospital stay. These plans provide cash benefits that employees can use for whatever they need, from meeting their deductible to paying everyday expenses like rent, daycare or groceries. By helping to boost financial confidence, voluntary benefits can increase enrollment in consumer directed health plans.

“Adding voluntary plans to traditional coverage can really help unlock the value of a consumer directed health plan for both employers and their employees,” concluded Brown. “This is a great way to get that extra financial protection.”

About Aetna

Aetna is one of the nation’s leading diversified health care benefits companies, serving an estimated 44 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, Medicaid health care management services, workers’ compensation administrative services and health information technology products and services. Aetna’s customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.

1 Ninth Annual Aetna HealthFund® Study, released December 2012.
2 Cost savings and health management benefits results are taken from the Ninth Annual Aetna HealthFund® Study, released in December 2012.

Language:
English

Contact:

Aetna
Katelyn Morgan, 860-273-1880
morgank3@aetna.com

Ticker Slug:
Ticker:
AET

Exchange:
NYSE

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