2003 OCT 13 - (NewsRx.com & NewsRx.net) -- Aetna announced in September 2003 that the Office of Personnel Management (OPM) has agreed to offer its consumer-directed health plan, Aetna HealthFund, as an option for more than three million eligible members of the Federal Employees Health Benefits Program (FEHBP) in 2004, and to expand the availability of the Aetna health maintenance organization (HMO) product to 22 markets.
The decision by OPM expands Aetna's product offerings under FEHBP, and will give federal employees the choice of Aetna HealthFund for their medical, dental, and prescription drug coverage in 10 markets and the ability to choose traditional Aetna HMO coverage in 22 markets. Federal open enrollment runs November 10 through December 8, 2003.
'We are confident that Aetna HealthFund addresses the challenge put forth by OPM director, Kay Coles James, to contain costs, maintain quality, and keep FEHBP a model of consumer choice, on the cutting edge of employer-provided health benefits,' said Ronald A. Williams, Aetna president. 'Offering Aetna HealthFund as a 2004 option for federal employees and their families will provide them an important coverage option that responds to consumers' growing interest in having greater control over how their health benefit dollars are spent, combined with online tools and credible health information that empowers them to make better decisions.'
Federal employees who select Aetna HealthFund will be able to choose first dollar coverage for preventive care with distinct medical and dental funds. They will be able to visit any licensed provider participating in Aetna's national network of nearly 349,000 primary care and specialist physicians and 58,000 dentist locations. They will also be able to pay for covered prescriptions directly from their integrated medical and pharmacy fund at the time of purchase. Medical fund dollars left at the end of the year will be added to the next year's fund balance, for those members continuing with the Aetna HealthFund.
Aetna HealthFund will also provide federal employees a wide range of tools and services to obtain health information needed to make informed decisions, enabling them to get the most value from their healthcare dollar. Federal employees will be able to use Aetna Navigator, a secure and personalized member website, to access resources including the HealthWise Knowledgebase, Price-A-Drug, Price-A-Medical Procedure, hospital comparison tool, preventive care planner, DocFind, Simple Steps To A Healthier Life, and online customer service. Federal employees can also call a team of Aetna registered nurses any time of any day at the Informed Health Line for their health-related questions.
Aetna first launched a self-insured Aetna HealthFund product in September 2001 for large national employers, a fully insured product in July 2002 for employers with as few as 51 eligible employees, and a fully integrated pharmacy benefit in January 2003. In July 2003, Aetna expanded its consumer-directed product suite to include first-to-market dental plans, long-term care premium reimbursement and stand-alone pharmacy products.
The OPM has also agreed to expand the availability of the Aetna HMO product under the FEHBP from 12 to 22 markets beginning January 1, 2004. Aetna, which has had a long-standing relationship with OPM as an FEHBP carrier, currently provides Aetna HMO coverage to an estimated 265,000 members nationwide.
This article was prepared by Health & Medicine Week editors from staff and other reports.
