Joint venture healthcare company Sutter Health Aetna has revealed plans to offer its fully insured products to employers across Northern California for the 2022 enrolment season.
The move follows the California Department of Insurance (CDI) issuing a Certificate of Authority designating the firm as an independent insurance carrier in the state.
Sutter Health Aetna currently offers self-insured exclusive provider organisation (EPO) and preferred provider organisation (PPO) commercial health plans to large employers in its 16-county service area.
The issuance means if an employer wants a fully insured product it must select an Aetna plan that includes the Sutter Health Aetna performance network.
And upon CDI approval, the joint venture will be able to sell its own fully insured products to employers.
Sutter Health Aetna CEO Jeb Dunkelberger said: “The support and investment by Sutter Health and Aetna for the fully insured license further demonstrates the organizations’ commitment to the coordinated care model created by our virtually integrated delivery, retail, and finance system.”
Phil Jackson, CEO of health plan partnerships and products at Sutter Health, said: “Our collaboration with Aetna on a joint venture was driven by our desire to invest in value-based payment models that reward our integrated delivery system for outcomes and efficiency and not volume.
“With its own fully insured license, Sutter Health Aetna will be well positioned to deliver on these tenets and return value back to the purchasers of healthcare.”
Aetna senior vice president of markets Kristen Miranda added: “Employers across the region should see this as one of the strongest signals that Sutter Health Aetna is fully aligned to their interests.
“Through this fully insured licensure, the joint venture’s vision organically aligns to that of the member – accessible, affordable, innovative, and community-based.”
