This offering for self-insured customers is
designed to further reduce health care costs, improve health
outcomes and simplify the health care experience
HARTFORD, Conn., Oct. 16,
2024 /PRNewswire/ -- Aetna, a CVS Health company
(NYSE: CVS), now offers SimplePay Health, an alternative health
plan designed to further meet the diverse needs of our clients and
members. This plan, for self-insured clients, works to further
reduce costs, improve health outcomes and simplify the health care
experience through a differentiated approach to health care
coverage.
With an innovative payment model and resources for choosing
high-quality providers, SimplePay Health cuts through the
complexity of health care coverage and empowers members with the
tools they need to make the health care decisions that are right
for them.
SimplePay Health has been able to demonstrate a 60 percent
increase in use of top-quality providers and 12 percent total cost
of care savings for employers and members.*
"SimplePay Health showcases Aetna's growing portfolio of
offerings that are flexible based on the unique needs of our
members. From choosing a provider to remitting payment, we are
working to create a seamless, high-quality health care delivery
experience tailored to each member," said Steve Schaper, Senior Vice President, Commercial
and Specialty Markets, Aetna. "We are committed to optimizing the
member journey across the board and we are proud to offer SimplePay
Health as an option to our clients and members."
How it works
- This unique approach to health care gives members price
certainty, before a visit or treatment. Members pay a copay for
every covered medical and pharmacy service up to their
out-of-pocket maximum.
- The copay covers the end-to-end service, essentially a bundled
payment, everything from admission to discharge for a hospital or
facility visit, or all services in a specialty visit such as labs
or EKG.
- Members can search for providers using the intuitive app, which
empowers members to choose the lowest cost, best outcome providers.
Providers are ranked on quality and efficiency.
- Instead of bills and Explanation of Benefits (EOBs), members
just receive one simple monthly statement that summarizes all of
their medical and pharmacy claims for the prior 30 days. Very
similar to a credit card statement, but with zero percent
interest and no payment is due at time of service.
"At Aetna, we are committed to a simpler end-to-end member
experience and access to affordable, quality, innovative health
care. SimplePay Health puts that all together for our plan sponsors
and their members," said Amie
Benedict, President, Diversified Commercial Solutions,
Aetna. "SimplePay Health provides clear insight into cost before
accessing care and provider quality information so members can make
the right choice for them, while getting easy payment options and
more."
Key components of SimplePay Health
- No deductibles/no co-insurance (co-pay only plan).
- Details on exact cost for all covered services.
- Zero percent due out-of-pocket at time of provider visit or
prescription pick-up.
- A unique, yet simple payment process.
- Members receive one simple monthly statement that summarizes
all of their medical and pharmacy claims for the prior 30
days.
- Members are able to pay their balance off with a 0% interest
rate line of credit benefit that is automatically embedded in their
medical plan.
* SimplePay Health Book of Business, 2024
About Aetna
Aetna, a CVS Health business, serves an
estimated 36 million people with information and resources to help
them make better informed decisions about their health care. Aetna
offers a broad range of traditional, voluntary and
consumer-directed health insurance products and related services,
including medical, pharmacy, dental and behavioral health plans,
and medical management capabilities, Medicaid health care
management services, workers' compensation administrative services
and health information technology products and services. Aetna's
customers include employer groups, individuals, college students,
part-time and hourly workers, health plans, health care providers,
governmental units, government-sponsored plans, labor groups and
expatriates. For more information, visit Aetna.com (e.g.,
clinical diagnoses, eligibility criteria, participation in a
disease state management program).
About CVS Health
CVS Health® is the leading health
solutions company, delivering care like no one else can. We reach
more people and improve the health of communities across America
through our local presence, digital channels and over 300,000
dedicated colleagues — including more than 40,000 physicians,
pharmacists, nurses and nurse practitioners. Wherever and whenever
people need us, we help them with their health — whether that's
managing chronic diseases, staying compliant with their medications
or accessing affordable health and wellness services in the most
convenient ways. We help people navigate the health care system —
and their personal health care — by improving access, lowering
costs and being a trusted partner for every meaningful moment of
health. And we do it all with heart, each and every day. Follow
@CVSHealth on social media.
Media contact
Jeff
Swallow
Phone number in 401-601-4116
Jeffrey.swallow@CVSHealth.com
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SOURCE CVS Health
