Aetna selected as sole provider of Medicare Advantage PPO plans to retired state employees

Aetna (NYSE:AET) announced today that it has been selected by the Pennsylvania Employees Benefit Trust Fund (PEBTF) as the sole provider of Medicare Advantage PPO plans to retired state employees. Aetna will be one of three health plans providing Medicare Advantage HMO plans. The contract takes effect Jan. 1, 2010.

“We’re very excited to be given an opportunity to expand our participation in this program to include all Commonwealth of Pennsylvania retirees,” said Eric Cormier, head of Retiree Markets for Aetna in Pennsylvania. “We are committed to providing superior benefits and service, and we welcome the opportunity to support these retired public servants.”

Aetna will offer its Medicare Advantage PPO plans across the state, and also will provide a Medicare Advantage HMO offering to retired state employees in Southeastern Pennsylvania and select sites outside the state.

This new contract presents an exciting new government-business opportunity, said Russ Dickhart, chief operating officer for Aetna’s Government and Labor division. “Aetna is committed to serving the unique needs of workers and retirees in the government and public sectors. We appreciate the chance to do that for our new Pennsylvania Employees Benefit Trust Fund clients.”

Aetna provides health benefits to more than 1.1 million members in Pennsylvania.