Newest TRS Contract is largest projected membership sale in Aetna's history
DALLAS – Aetna (NYSE: AET) announced today it was selected by the Teacher Retirement System of Texas (TRS) to administer benefits to the system's 415,000 eligible Active Care plan members, who are current public education employees, and their dependents. This contract, effective September 1, 2014, is projected to be the largest membership sale in company history. In combination with two other TRS benefits programs, the new relationship will bring Aetna's total TRS membership to nearly 660,000 members.
"Aetna has enjoyed a long and successful relationship with the Teacher Retirement System in Texas and we are proud to be selected to administer benefits to their Active Care members," said Cain Hayes, president of Aetna's government sector and labor division. "As one of the largest and most innovative health care companies in the country, we believe we provide quality products, superior service and a broad range of tools that will help TRS contain medical costs while improving the health and well-being of the TRS Active Care employees and their dependents."
Aetna presently administers benefits for TRS-Care, which includes more than 150,000 pre-and post-65 retired public school employees and their dependents, and services fully insured Medicare Advantage plans covering more than 90,000 TRS-eligible retirees.
Under the newest contract, Aetna will provide a dedicated care advocate team to increase member engagement, improve health outcomes and reduce costs while simplifying the member experience, in addition to performing administrative services such as claims processing and network management.
Eligible TRS Active Care members will have access to Aetna's broad network in Texas, which includes more than 40,000 physicians and over 500 hospitals.
TRS delivers retirement and related benefits that have been authorized by the Texas Legislature, and manages a $124 billion trust fund established to finance member benefits. More than 1.3 million public education and higher education employees as well as retirees participate in the system. For more information, see http://www.trs.state.tx.us/.
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.
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