Aetna, SBUH announce new agreement for hospital’s participation in Aetna network

Aetna (NYSE: AET) and Stony Brook University Hospital (SBUH) are pleased to announce today a new agreement for the hospital’s participation in the Aetna network. The agreement is effective through April 30, 2011, and will enable Stony Brook physicians currently participating with Aetna to continue their participation uninterrupted.

“We could not rest until this negotiation was concluded, and I am extremely gratified that we have been able to reach this agreement, restoring access to Stony Brook University Hospital and its many services unique in Suffolk County to Aetna’s members.”

Care received at SBUH since the prior agreement expired on February 15, 2010, will be at the preferred or in-network participation level for members in all Aetna commercial health plan products, as well as the Stony Brook Aetna Student Health plan.

“This agreement reflects the genuine commitment both parties have had to the process of continuing to negotiate in good faith, focus on the issues, and work to reach an agreement that is in the best interest of all parties concerned—especially Stony Brook patients who are our members, and the many local businesses that pay for their health coverage,” said Steve Logan, president of Aetna’s New York market. “Both Stony Brook and Aetna wanted to reach a fair agreement, and we are very pleased to let Long Islanders know we succeeded, and that we appreciate their patience during the process.”

“We tried very hard to minimize any impact on patients with Aetna insurance and apologize for how long this negotiation took,” said Steven L. Strongwater, MD, SBUH Chief Executive Officer. “We could not rest until this negotiation was concluded, and I am extremely gratified that we have been able to reach this agreement, restoring access to Stony Brook University Hospital and its many services unique in Suffolk County to Aetna’s members.”