State Comptroller Natalie Braswell announced Wednesday that – pending negotiations – Aetna has been selected as the new Medicare Advantage administrator for the state’s health plan.
The Comptroller’s office said the new Aetna plan is estimated to save about $400 million over the next three years and reduce the state’s unfunded liability by about $7.5 billion.
UnitedHealthcare is the current plan operator.
The state first adopted a Medicare Advantage plan four years ago in an effort to maximize Medicare coverage and provide continuous benefits to retired state workers.
The state said there are about 57,000 Medicare-eligible retirees and dependants enrolled in the state’s Medicare Advantage plan.
Aetna, a CVS Health company, was chosen as the winner of the contract by the Health Care Cost Containment Committee, a group that works to set the guidelines of the state health plan.
Braswell said the tentative three-year agreement “ensures the retirees covered by the state health plan will continue to receive the care they need while securing tremendous savings, now and in the future, for Connecticut taxpayers. …. My office has been committed to aggressive and creative contracting, utilizing a reverse auction process over multiple rounds of negotiations to secure the best possible terms.”
The Comptroller’s office said that – over the next several months – it will be working with Aetna to finalize and implement the contract, which, if all goes as planned, will take effect on Jan. 1. 2023.
All retirees currently enrolled in the state’s Medicare Advantage plan will be automatically moved from UnitedHealthcare to Aetna, the Comptroller’s office said.
