NU Online News Service, May 17, 2004, 2:44 p.m. EDT – Aetna Inc., Hartford, has introduced a defined contribution retirement health savings product.[@@]

Employers can use the new Aetna HealthFund Retiree Reimbursement Account to make regular contributions to employees’ and retirees’ personal retiree health accounts.

Retirees can use the account funds to pay Medicare supplement insurance premiums and cover the cost of other expenses that meet Internal Revenue Service guidelines, Aetna says.

Aetna will handle the administration and reporting.