Keenan, Aetna Join to Offer Calif. Employers with New Health Benefits Solution

Aetna and Keenan have announced an arrangement to jointly offer
consumer-directed health plans to employers in California.

Through this alliance Aetna’s flagship consumer-directed product, Aetna HealthFund, will be combined with additional informational and
administrative tools that will reportedly enhance the functionality of the product for specific California employers including public schools and health care organizations. The new product package, called
ConsumerAdvance, is being offered for an effective date of Oct. 1,
2004.

Sean Smith, CEO of Keenan, said, “The hallmark of Keenan’s three
decades of service to our California-based clients is our keen ability
to survey the marketplace for innovative and cost-effective ways to
bring new products and services to our customers. Through our alliance with Aetna, and the new ConsumerAdvance product, we feel confident that we have developed a consumer-directed health plan product package that will be enthusiastically and successfully embraced by our customers.”

In addition to easy-to-access consumer tools, information and
personalized support, all provided via the Aetna Navigator member
website (http://www.aetnanavigator.com), employers who select
ConsumerAdvance will also have exclusive access to a web-based human resource tool kit, self-serve member enrollment and access to discounted ancillary services.

Beth Andersen, Aetna general manager, middle market accounts, West Region, said, “Through our alliance with Keenan, Aetna is excited to be able to provide this product innovation to schools, community colleges and health care providers in order to reach more employers and members with our consumer-directed Aetna HealthFund product. The additional administrative enhancements available with the ConsumerAdvance package will further empower employers and members to make informed decisions and better control their health care dollars.”

Aetna provides ConsumerAdvance with fully and self-insured product
options; one of the largest networks of physicians, hospitals,
pharmacies and health professionals in the industry; experience in claims payment and administration of innovative health benefits; and the company’s online resources and self-service tools.