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Headquarters: 151 Farmington Avenue Website: http://www.aetna.com Aetna is one of the nation's leading providers of insurance offering health, dental, group, life, disability and long-term care benefits to 46.5 million people. Aetna has a nationwide network of more than one million health care professionals, including over 561,000 primary care and specialist doctors and 5,300 hospitals. Aetna provides benefits through employers in all 50 states, with products and services targeted specifically to small, mid-sized and large multi-site national employers. Aetna also serves individuals and Medicare beneficiaries in certain markets. 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. The company was the first national, full-service health insurer to offer a consumer-directed health plan. In 2015, Aetna reported total revenues of $60.3 billion, a 4% increase, and net income of $2.39 billion. The company reported over 23.48 million medical members, down slightly from 2014. The company also reported over 14.63 million dental members and 15.15 million pharmacy benefit management service members. In 2015, Aetna raised the minimum wage for all employees to $16 per hour. A higher hourly wage also creates the opportunity for higher bonus and 401(k) contributions. Aetna plans to acquire Humana in a deal worth $34 billion that is awaiting approval from regulators. History In 1850, Aetna Insurance Company organizes an Annuity Fund to sell life insurance. Aetna Insurance Company turns to a Hartford, CT judge, Eliphalet Bulkeley to head the Annuity business. In 1853, the Annuity department separates from Aetna Insurance and is incorporated as Aetna Life Insurance Company. The company's first president is Eliphalet Bulkeley. The name "Aetna" is retained to take advantage of the good reputation of the original Aetna, and because three years of life policies already had been issued under that name. The name was inspired by an 11,000-foot volcano on the eastern shores of Sicily, Mt. Etna, then the most active volcano in Europe. Awed by the strength of the mountain, they named their fledgling venture Aetna Insurance Company. The company grew quickly and began to offer life insurance policies in 1861 and entered the health insurance business in 1899. The company started selling auto insurance in 1907 as the automobile was just launched. In 1996, Aetna sold its property-casualty division to Travelers. It also merged with U.S. Healthcare. The company changed its name from Aetna Life & Casualty to Aetna Inc. Aetna acquired Coventry Health Care in 2013 for $7.3 billion. Benefits Aetna has been recognized in several lists as a top company to work for minorities and women. The company offers medical and life insurance to disability, long-term care and retirement plans. Coverage begins on the first of the month after your hire or the first of the month if that is your date of hire. Aetna offers a paid-time off bank which can be used for vacations, sick days, family illness and personal time. During the first three years, the number of paid-time off days is 18 per year. The company provides a 401(k) plan, pension plan and employee stock purchase plan. Updated June 5, 2016 |