HARTFORD, Conn.--(BUSINESS WIRE)--Aetna (NYSE: AET) has extended its contract with CoreSource, one of the nation's leading administrators of self-insured employee benefit plans. The agreement will provide CoreSource’s customers and members with access to Aetna’s broad national PPO network. Through its Aetna Signature Administrators (ASA) business, Aetna has established strong relationships with a select number of third-party administrators (TPAs) to provide their self-insured customers with a number of services including network services and management, stop loss insurance, and medical management.
“With health care reform, we expect the employer market for self-insured health plans to expand over the next several years. Our partnership with CoreSource complements our strategy to compete effectively and extend our reach in this space,” said Ralph Borzillo, Vice President of Aetna Signature Administrators. “CoreSource has been an Aetna Signature Administrator since 2004 and, as our largest TPA relationship, has been integral in helping us achieve growth in the self-insured space. The contract extension demonstrates our long term commitment to our relationship with CoreSource as an Aetna Signature Administrator.”
Aetna Signature Administrators (ASA) works with leading TPAs to provide network and medical management services that complement the TPA’s administrative capabilities. Aetna provides Stop Loss insurance coverage for the employer group, handles claims pricing, contracts with plan sponsors to provide access to the PPO network, provides network services and management, resolves contract issues, and oversees large case medical management. The TPA, in turn, handles sales, client management, claims processing, provides customer service, designs plans, and manages precertification using Aetna standards and approved criteria.
“We’re pleased to be able to provide our customers and members with access to Aetna’s broad national PPO network,” said Nancy Eckrich, President and CEO of CoreSource. “Health care reform is driving greater interest in self-insured plans. Aetna’s ability to provide access to quality doctors, hospitals, and medical management, all at an affordable price, allows us to meet the unique needs of the post-reform marketplace.”
Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 36.5 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 and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.
CoreSource is one of the nation's leading TPAs, delivering integrated, customized employee benefit solutions to self-funded employers. The company maintains claims and customer service offices in Baltimore; Charlotte, N.C.; Chicago; Columbus, Ohio (NGS CoreSource); Detroit (NGS CoreSource); Kansas City, Kan. (FMH CoreSource); Lancaster, Penn.; and Little Rock, Ark. CoreSource utilizes cutting-edge products and services designed to facilitate effective cost-containment strategies. For more information, visit www.coresource.com.