A last-minute-agreement has thwarted a lapse for in-network coverage by the national insurer, Aetna, for Washington patients who rely on Providence for their health care.
An estimated 35,000 Washington workers who are insured by Aetna through their jobs faced loss of coverage at Providence on Sept. 1.
Without a new contract, Aetna customers would have lost in-network access to Providence providers.
The two sides announced a "multi-year" agreement on Tuesday. A spokesman told the Tri-City Herald that the new agreement took effect Sunday, Sept. 1, but answered no further questions, including the length of the deal and the financial impact on patients.
"Providence and Aetna, a CVS Health business, are pleased to announce that we have reached a multi-year agreement that keeps hospitals and doctors in the Providence family of organizations in Washington state in network for Aetna members. We are pleased to have reached an agreement that puts our patients and members first and look forward to continuing to collaborate to support their care," an official statement read.
During negotiations, Providence, a nonprofit, complained that Aetna, a for-profit owned by Connecticut-based CVS Health, was unwilling to accept reimbursement increases related to rising costs of drugs, supplies and staff wages.
Negotiations for the new contract began in April.
___
(c)2024 Tri-City Herald (Kennewick, Wash.)
Visit Tri-City Herald (Kennewick, Wash.) at www.tri-cityherald.com
Distributed by Tribune Content Agency, LLC.
