Aetna Inc. and the HR Policy Association have agreed to offer retiree health care benefits to employers that are HRPA members.
The program, aimed at controlling health care costs, will offer fully insured plans for retirees who are over 65 as well as younger retirees, according to Aetna, Hartford.
Retired employees will have access to Aetna group retiree health insurance plans regardless of health at the time of retirement.
The HRPA, Washington, represents human resources executives from 250 large U.S. corporations that employ a total of 12 million and provide benefits for 2.5 million retirees.
Accounting firm PricewaterhouseCooper L.L.P., New York, is helping Aetna and the HRPA create the retiree health insurance program.
Options for retirees younger than age 65 consist of 2 health savings account designs and 2 traditional major medical plans with comprehensive catastrophic coverage.
All plan designs include incentives for using “high-performance networks” and in-network providers, Aetna says.
Other cost-control measures include chronic disease management and wellness programs.
All the plans also include first-dollar preventive care coverage for physicals, rectal exams and other screening procedures.
Post-65 group insurance options will include Medicare Advantage HMOs and Medicare Part D prescription drug coverage. Aetna will also offer new Medicare Advantage private fee-for-service plans for employer groups in all 50 states.
HR Policy will formally present the program to its members March 23.