Aetna and Continuum Health Partners Announce New Network Agreement

NEW YORK CITY, July 28, 2010 — Aetna (NYSE: AET) and Continuum Health Partners (CHP) are pleased to announce a new three-year agreement for the hospital system’s participation in the Aetna participating provider network.  Under the agreement, the following facilities, collectively known as the Continuum Hospitals, will remain participating for all Aetna commercial and Medicare products, including Student Health plans:
• Beth Israel Medical Center – Petrie Division,
• Beth Israel Medical Center – Kings Highway Division,
• Long Island College Hospital,
• New York Eye & Ear Infirmary,
• St. Luke’s-Roosevelt Hospital Center – Roosevelt Division,
• St. Luke’s-Roosevelt Hospital Center – St. Luke’s Division.

The new agreement also will enable 1,500 of Continuum’s affiliated physicians currently participating with Aetna to continue their participation uninterrupted.

“This agreement reflects the genuine commitment both parties have had to the process of negotiating an agreement that is in the best interest of all parties concerned – especially Continuum Health Partners’ patients who are our members, and the many local businesses that pay for their health coverage,” said Steve Logan, president of Aetna’s New York market.  “Both Continuum and Aetna wanted to reach a fair agreement, and we are very pleased to let New Yorkers know we succeeded, and that we appreciate their patience during the process.”

“Both sides worked tremendously hard to finalize this agreement,” said John J. Collura, Continuum’s Executive Vice President and Chief Financial Officer.  “There were many challenges to overcome and much give-and-take from both parties.  But, in the end, we believe that we have in place a new contract that is mutually satisfactory and one that preserves the working relationship between Continuum and Aetna and assures that Aetna’s members will continue to have full access to the Continuum hospitals and our cadre of excellent physicians.”

The contract’s effective date will be retroactive to the April 5, 2010 termination date, so all services provided by the hospital to Aetna members since that date will be processed at the in-network level of benefits.  Aetna will send letters to members notifying them that Continuum hospitals and physicians will continue in the network.

About Aetna
Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 35.8 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com 

About Continuum Health Partners
Continuum Health Partners is the parent company for the partnership between six distinguished voluntary hospitals: Beth Israel Medical Center-Milton and Carroll Petrie Division, Beth Israel Medical Center-Kings Highway Division, St. Luke’s Hospital and Roosevelt Hospital; Long Island College Hospital of Brooklyn; and The New York Eye and Ear Infirmary. The network also encompasses ambulatory health centers and group and private practice settings throughout the New York metropolitan region. Continuum has an annual operating budget of over $3 billion; operates more than 2,700 certified beds; provides for over 650,000 days of inpatient care and over 1.3 million outpatient visits; has more than 4,500 affiliated physicians; and a work force of over 15,500 individuals, making it the sixth largest private employer in the New York metropolitan region.  For more information, visit Continuum’s web site at: www.chpnyc.org.