SilverScript Completes Acquisition of Aetna

Silverscript is excited to share that CVS Health, the largest pharmacy health care provider in the U.S., has completed its acquisition of Aetna, one of the nation’s leading diversified health care benefits companies.

The combination of CVS Health and Aetna is a transformative moment for Silverscript and the industry. With the combined capabilities of two leading organizations, Silverscript’s goal is to help transform the consumer health experience through a new innovative health care model that is easier to use, less expensive, and puts consumers at the center of their care. In doing so, Silverscript will deliver on their purpose of helping people on their path to better health.

As they bring the two companies together, your clients will continue to work with Silverscript as they do today, and receive the same great products, support and service.

Please read the Silverscript & Aetna Acquisition FAQ document here for more information.

 

For more senior marketing news, visit the Cornerstone Senior Marketing website!

CVS Health Announces Completed Acquistion of Aetna

CVS Health completed its acquisition of Aetna on Wednesday. The combined company intends to provide consumers access to the information and resources needed for quality health care, as well as remove barriers to access to affordable care.

New products and services developed by the combined company will be broadly available to the health care marketplace, regardless of one’s insurer, pharmacy benefit manager (PBM), or pharmacy of choice. Additionally, CVS Health offerings, including retail pharmacy services, specialty pharmacy and long-term care, walk-in clinical services, and PBM services, will continue to be fully accessible to other health plans. Aetna members will also continue to have a broad network of pharmacies, including community-based independent pharmacies, available to fill their prescriptions. CVS Pharmacy will continue to participate within the pharmacy networks for other PBMs and health plans.

Contact your Cornerstone representative with any questions.

 

Click here to view the official release from Aetna.

Click here to view the official release from CVS Health.

Aetna Updates on January New Business Deadlines, Billing Timelines, and Reporting Notices

December and January Deadlines

The deadline for Aetna December sales notices is right around the corner. Make sure you get your notices in for December 1 effective dates by Tuesday, November 27th. Also, today is the last day to submit sales notices early and earn an administrative fee credit for your clients. You must also submit all required documents by Monday, November 26th in order for your clients to qualify for the credit. Click here for a flyer with more details on the administrative fee credit program and deadlines.

Below are the regular submission deadlines for December and January effective dates:

Effective Date Sales Notice Submitted All Required Documents Submitted
December 1 11/27/2018 11/30/2018
January 1 12/27/2018 12/31/2018

Billing

On the 25th of each month, Aenta posts monthly AFA invoices on Springboard Marketplace. Aenta emails invoices directly to those who do not use Springboard. The invoice is based on how many employees are enrolled for coverage on the 17th of that month. On the second business day of the following month, Aetna will pull funds from your account.

The first month’s bill may follow a different timeline if Aetna installs a group after the 19th of the month before their effective date. In this scenario, Aetna will pull eligibility on the first day of the month of their effective date and five days later post your invoice on Springboard. Aetna will pull funds by the 15th of the month. If they install a group after the effective date, they will not pull funds the first month. Instead, they will pull funds for two months of coverage on the second business day of the next month. For renewals, they will pull funds at their renewal and the next month’s invoice will include any changes that occurred after the 20th of the month.

*If group is not installed by the effective date, the customer will receive a bill for 2 months of coverage at once.

NY HCRA Notices

AFA customers may have recently received a communication from the New York State Office of Pool Administration regarding their NY HCRA filing eligibility. Please note, that there is no action needed. As the third party administrator, Aetna files NY HCRA forms on behalf of their Small Group AFA customers and determine whether that filing is annual or monthly.

5 Reasons Aetna is Your Choice in Northeast Ohio

 

Cornerstone Senior Marketing & Aetna MA/MAPD want to share some insightful benefit information on Aetna’s plans if you have clients in the Northeast Ohio region.

5 reasons Aetna is your BEST choice in Northeast Ohio:

  1. Access to National Network on PPO and HMO plans. Network includes ALL acute care hospitals in Ohio, with access to a national network which includes Cleveland Clinic, Akron Children’s and Aultman.
  2. Expanded service area into Wayne, Carroll and Tuscarawas counties.
  3. $0 premium HMO Value and $0 premium Value PPO plans.
  4. $0 PPO includes dental, OTC, hearing and meal benefit.
  5. Reduction in MOOP and copays including $0 Tier 1, and Tier 2 Prescription gap coverage.

 $0/MONTH

Two plan options including both medical and prescription drug coverage at $0/month

PROVIDER NETWORK

All acute-care hospitals in Ohio are in-network for Aetna members

(The Ohio State University is in-network for Aetna PPO members only)

NEW BENEFITS ADDED

Plans may include: OTC allowance, transportation, post-discharge meals, and dental, vision, & hearing benefits

If you have questions or want to get contracted with Aetna please contact your Cornerstone Senior Marketing representative.

Aetna Funding Advantage New Broker Bonus

Earn more for groups sold using IMQs with Aetna Funding Advantage’s new broker bonus. 

From 11/1 through 1/1 effective dates, you can earn more per subscriber for sold Aetna Funding Advantage (AFA) groups underwritten using Individual Medical Questionnaires (IMQs).

When you sell a Small Group (5-50*) AFA case underwritten using IMQs, you get:

  • Opportunity for group to save up to 15% on costs**
  • $100 per subscriber instead of the standard $50 per subscriber AFA bonus, paid quarterly
*10-50 in NV, 26-50 in NC
**Versus a group underwritten through GRx methodology. Based on AFA book of business analysis.

Click here to learn more.

CVS-Aetna Merger Cleared by Department of Justice

Verified on October 10, 2018, the Department of Justice has allowed CVS Health’s acquisition of Aetna to proceed. The $68 billion deal is still subject to state regulatory approvals, many of which have been granted.The acquisition is expected to close in the fourth quarter of this year. The intention of the merger is to improve the consumer health care experience at a lower cost for patients and payors.

The news comes just one month after Aetna agreed to sell its Medicare prescription drug business to WellCare Health Plans, Inc. to alleviate concerns that the merger would harm competition among plans with pharmaceutical coverage for seniors.

RESOURCES

Peerfit Now Available for Aetna Funding Advantage Memberse

Small Group Aetna Funding Advantage plans now include access to group fitness classes through Peerfit without any membership costs or long-term commitments for employees. Starting with October 1 effective and renewal dates, employees with an Aetna Funding Advantage plan can dance, spin, run, or lift their way to health by attending group fitness classes at gyms and fitness studios in the Peerfit network.

Click here for more information about AFA’s Group Fitness Classes.

Click here for more information about Peerfit.

 

Contact your Cornerstone representative for additional information.

Aetna Works to Keep Your Data Safe with Self-Validation

Aetna recently announced the launch of a new broker full-disk encryption validation service, which would have required brokers to download a software agent to their devices. After growing concerns, Aetna has decided to use a self-validation solution instead.

Beginning on September 17, 2018, the first time you visit a broker website, you will see a pop-up message that asks you to verify if your device is encrypted. Your response (either “Yes” or “No/I don’t know”) generates a web browser file called a cookie, which can be read by any Aetna broker website you visit from the same device and browser.

Each cookie has an expiration date. When it expires, you will be asked to re-verify your encryption status. If you answer “yes” to the encryption pop-up, your cookie will expire in 12 months. This means you’ll be set for a year when you use the same device. If your device is not encrypted or you don’t know if your device is encrypted, the cookie will expire in 90 days. This will give you an opportunity to verify or install encryption.

Find out more about this system and why it is in place here.

LIVE TRAINING: Be Ready to Sell with Aetna 2019 Medicare Products With $0 PPO!

Be Ready to Sell with Aetna 2019 Medicare Products With $0 PPO!

Join Cornerstone and Aetna for an exclusive look at their 2019 Medicare products. Learn about the benefits of their 2019 plans, including…

  • 2019 New Medicare Plan options
  • Enhanced Value Added Benefits- Dental, Hearing, Vision
  • Online Enrollment Tools
  • New Marketing Pieces

DATE: Tuesday, September 18

TIME: 10:00 am–12:00 pm

LOCATION: Cornerstone Cleveland Office

4500 Rockside Road Suite 330 | Independence, OH 44131

Click here to register.

 

Not appointed with Aetna? Contact your Cornerstone representative today to get started!

ATTENTION KY BROKERS: Check Out Aetna’s Level-Funded Program

Attention Kentucky Brokers! Have you quoted Aetna’s new level-funded program? Aetna has recently made a significant rate adjustment in Kentucky. Ask for quotes on this product today!

Important Updates to 2018 AFA (5–99):

  • 5–99 in Ohio
  • 5–50 in KY
  • 15 percent rate decrease for KY effective 7-1-18
  • Very competitive pricing
  • 15-month rate guarantee for 12-1-18 and 1-1-19 effective dates (only increases rate 1 percent to go to 15 months versus 12)
  • $50 bonus per Employee per Year through 1-1-19 effective dates.  Example: 10 employees = $500 bonus.  30 employees = $1500
  • $25 Per Employee per year administrative credit if submitting early
  • $25 plus tax for Apple Watch for employee ($50 plus tax for spouse)
  • Pure Fit wellness credits

Contact your Cornerstone representative for additional details or to get contracted with Aetna today.