Aetna announced on June 13 that it would pay $290 million to acquire a Genworth unit that focuses on providing supplemental Medicare coverage, according to a New York Times report.
The acquisition will allow Aetna to increase its ability to provide additional insurance for Medicare participants. According to the report, the Genworth unit includes more than 145,000 members. Members can use supplemental Medicare insurance to cover co-payments, deductibles and other items not covered by their basic Medicare plans.
Aetna is expected to close the deal in the fourth quarter of 2011.
Read the New York Times report on Aetna.
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The acquisition will allow Aetna to increase its ability to provide additional insurance for Medicare participants. According to the report, the Genworth unit includes more than 145,000 members. Members can use supplemental Medicare insurance to cover co-payments, deductibles and other items not covered by their basic Medicare plans.
Aetna is expected to close the deal in the fourth quarter of 2011.
Read the New York Times report on Aetna.
Related Articles on Coding, Billing and Collections:
Managing Billing and Collections to Immediately Improve Profits
Surgery Center Coding Guidance: Ankle Collateral Ligament Repair
CMS Adds Nine New HCPCS Codes to ASC List of Covered Ancillary Services