Aetna cuts jobs, customers in effort to boost profit

Article Abstract:

Aetna Life and Casualy plans to lay off workers and withdraw from unprofitable markets to boost declining profits. The health insurer's moves will likely affect 2 million customers who may have to change health plans in 2001. Aetna may also have to increase health insurance premiums from 11% to 13% and restructure its sales force to focus on group policies for midsize employers. The company is also working on improving customer service and reduce hassles for doctors and patients.

Personnel administration, Aetna Life and Casualty Co.

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Doctors attack Aetna deal

Article Abstract:

Doctors and other critics have criticized California health insurer Wellpoint Health Networks' proposed acquisition of Aetna US Healthcare. Doctors pointed out that the acquisition would result in four firms controlling 90% of the health insurance market in California. Wellpoint is headed by CEO Leonard Schaeffer, a former head of the Federal Health Care Financing Administration. If successful, the Aetna deal will provide Wellpoint access to 21 million members throughout the US.

Asset sales & divestitures, Acquisitions & mergers, Aetna U.S. Healthcare Inc.

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