Aetna Inc. is an American managed health care company, which sells traditional and consumer directed health care insurance plans and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans. Aetna is a member of the Fortune 100.
Aetna offers health care, dental, pharmacy, group life, disability, and long-term care insurance and employee benefits, primarily through employer-paid (fully or partly) insurance and benefit programs, and through Medicare. Membership numbers: (as of June 30, 2013):
- 22 million—medical members
- 14.3 million—dental members
- 13.8 million—pharmacy members
- 13.609 million—group insurance members
- 1,000,000+ — health-care professionals
- 597,000+ — primary-care doctors and specialists
- 5,300+ — hospitals
Aetna has spent more than $2.0 million in 2009 on lobbying. The company spent $809,793 between January 2009 and the end of March 2009—up 41 percent from the same period in 2008. Aetna’s campaign contributions include more than $110,000 to US Senator Joe Lieberman (ID-CT) in 2009. From 2005 through 2009, Aetna contributed $56,250 to Senator Max Baucus (D-MT), chairman of the Senate Finance Committee, making Aetna the senator’s seventh highest contributor over that time period.
In the California Health Care Quality Report Card 2011 Edition, Aetna received 2 out of 4 stars in Meeting National Standards of Care and 1 out of 4 in Members Rate Their HMO. In the California Health Care Quality Report Card 2010 Edition, Aetna received 3 out of 4 stars in both Meeting National Standards of Care and How Members Rate Their HMO, for a rating of “Good”.
Mark Bertolini became CEO of Aetna on November 29, 2010, and chairman on April 8, 2011. Meg McCarthy is Senior Vice President and Chief Information Officer, and Joseph Zubretsky is Chief Financial Officer.
In 2005, the company had $1.1 billion in earnings. Aetna’s 2007 revenue, reported in 2008, was $27.6 billion. Aetna’s 2008 revenue, reported in 2009, was $31 billion. Aetna’s 2012 revenue, reported in 2013, was $35.54 billion.
Aetna is the direct descendant of Aetna (Fire) Insurance Company, of Hartford, Connecticut. The name was meant to invoke Mount Etna, at the time Europe’s most active volcano.
Matching Grant Program Guidelines:
Because the funds available to provide matching grants are limited, the Aetna Foundation determines the exact amount of matching grants once a year, in December.
Disaster Response: Financial contributions to relief/reconstruction efforts pertaining to a disaster
- A disaster is a sudden, calamitous event that materially disrupts the functioning of a community or society and causes human, material, economic or environmental losses that potentially exceed a community’s or society’s ability to cope using its own resources. Though often caused by nature, disasters can have human origins. Disasters occur unexpectedly and can have destructive consequences that warrant an extraordinary response from outside the affected area. The Aetna Foundation reserves the right, in its sole discretion, to categorize any calamitous event as a disaster and engage its disaster response policy and programs to provide relief and/or reconstruction assistance.
- Matching grants go to organizations that the Aetna Foundation identifies as best suited to provide relief and reconstruction for specific disasters. These may or may not be the same organizations to which individuals direct their personal donations; however, the funds will go to provide relief for the specific disaster toward which your contribution was directed.
Giving Campaign: Pledges made during the annual Giving Campaign
- The Giving Campaign is open September/October; however, the exact dates vary each year.
- You can also fulfill your pledge via contributions directly to nonprofits, payroll deductions taken from the first 24 of the following year’s paychecks, or securities transfers.
- Donations made prior to the Giving Campaign are NOT eligible for matching.
- Receive eight hours of Paid Time Off (PTO) for pledging at or above your sponsor level. See Paid Time Off (PTO) for Sponsor-Level Donations (Giving Campaign Only) on page 4 for full details.
Personal Donations: Financial contributions made any time during the year
Volunteer Grants: Donations of time (volunteering)
Grant of up to $300 for the first 20 hours that you volunteer for a nonprofit in a calendar year.
There is no limit to the number of organizations for which you may request a Volunteer Grant; however, an organization may receive only one Volunteer Grant per volunteer per calendar year. Volunteering of more than 20 hours per year by one individual for a given organization will not result in multiple Volunteer Grants to that organization in one year.
Match requests will be closed and no matching grant issued if any supplemental information/confirmation that has been requested is not provided as stipulated above. The Aetna Foundation reserves the right to confirm receipt of any gift by the recipient nonprofit prior to issuing a matching grant for that gift.
It may take some time for a nonprofit to provide the necessary information/confirmation to process your match request. If the requested information/confirmation is not received as stipulated in the table above, the request will be closed and no matching grant issued.
Your contributions will be processed as we receive them, aggregated with other donors’ contributions, and disbursed in quarterly payments to nonprofits. This allows the Aetna Foundation to maximize the funds available for matching your contributions by minimizing program expenses. Prior to disbursement, donors’ funds are held in a non-interest bearing account owned by the Aetna Foundation.
A fixed yearly budget is established for the Disaster Response, Giving Campaign and Personal Donations programs. Aetna Foundation’s match of your donations through these programs will be prorated based on the total value of requests received per program versus the available budget. Due to year-end processing timelines, the exact match is not available until the following calendar year; please plan accordingly.
In order to ensure efficient and cost-effective processing, the Aetna Foundation will not send a check to an organization until a $100 per-check minimum is met. Donations will continue to roll over to the next quarter until this $100 per-check minimum is met. If, at the end of the calendar year, the $100 minimum still has not been met, a check will be sent out to that organization.
However, in order to provide benefit when it is needed most, Disaster Response program donations and corresponding matches to those organizations that total less than $100 at the time of disbursement will be sent out.
The matching grants may be aggregated and sent to a nonprofit organization identified by the Aetna Foundation as best suited to provide relief and reconstruction for the disaster toward which your contribution was directed. This organization may or may not be the same as the organization you chose to receive your contribution. Your donation will always go to the organization which you selected.
Donor Eligibility:
Disaster Response, Giving Campaign and Personal Donations program: full- and part-time regular Aetna employees, retirees, directors, and their spouses/domestic partners. Eligible spouses/domestic partners retain their eligibility for this program after the death of their spouse/domestic partner. Ex-spouses, ex-domestic partners, and any other family members of Aetna employees or retirees are not eligible to participate. Volunteer Grants program: full- and part-time regular Aetna employees and retirees only.
To qualify for Aetna Foundation matching grant programs as a retiree, your years of service to Aetna plus your age at the time you terminated from Aetna must be greater than or equal to The determination of retiree status for these programs may be different than for other benefits extended to Aetna retirees.
Ineligible Donations/Organizations:
Donations for political concerns or organizations furthering political aims. Donations for faith-based or religious organizations, unless the funds are directed to a specific program that is nondenominational in nature, does not espouse a specific faith (Buddhist, Christian, Hindu, etc.), and benefits the broader community outside of the organization as a whole (e.g., soup kitchen, homeless shelter, etc.). A program designation is required for these types of donations; otherwise the donation is NOT eligible for a match.
Foundation Matching Grants.
Aetna Gives Nonprofit Service. This includes donations made on your behalf in lieu of receiving a prize or other tangible gift for participation in an event, drawing, contest, etc. For example, participating in an Aetna-sponsored health challenge and choosing to have the Aetna Foundation direct a donation to a nonprofit organization instead of personally receiving a gift for participating.
Pooled donations. Donations cannot be pooled; matching grant requests must be submitted individually by the requesting individual for their personal donation only. Donations distributed from a charitable trust fund. The Aetna Foundation will not match the amount of any grant made by the fund to a third-party or charitable organization. Donations to private foundations or corporations. Donations to for-profit organizations. Donations entitling the giver to some personal benefit (goods, services, etc.) in return for their own or the Foundation’s donations. Paid Time Off (PTO) for Sponsor-Level Donations.
If you pledge at or above your sponsor level during the Giving Campaign, you will receive eight hours of PTO in January of the following year. However, pledges must be fulfilled (i.e., paid to the nonprofit) by Dec. 31 of the year following the Giving Campaign, or this PTO is subject to revocation. If you stop your Giving Campaign payroll deduction and your total current-year Giving Campaign-related donations to date have not yet met your sponsor level, the PTO you received will be removed from your PTO bank.
Your sponsor level is between .5% and 1.5% of your “annualized salary,” which is equivalent to your fulltime salary, not your part-time (.6 FTE, .8 FTE, etc.) salary. Since a full eight hours of PTO is granted for a sponsor-level contribution, the full, “annualized salary” is used to determine eligibility for this benefit.
Inability to Deliver Payment to Nonprofit:
Every effort will be made to deliver your donation and the corresponding Aetna Foundation matching grant to the appropriate recipient. In the event that funds cannot be delivered due to an organization having gone out of business, your funds will be returned and no matching grant will be issued. In the event that funds remain unclaimed by the organization (e.g., check not cashed) and the organization cannot be contacted, the funds will be transferred to Aetna’s unclaimed property process. Any unclaimed funds (checks or amounts due) will follow the escheat laws designated by the payee’s state of last known address. In general, funds transferred are held for 3-5 years (depending on the state dormancy period) from the date of issue, due diligence is performed (based on the dollar value of the amount due), then any unclaimed funds are remitted to the state of the payee’s last known address.
Your donations will be prorated as follows prior to matching grants being calculated: Organization A: $2,500 – 50% of your total donations ($5,000 of the $10,000 total), Organization B: $1,250 – 25% of your total donations ($2,500 of the $10,000 total), Organization C: $1,250 – 25% of your total donations ($2,500 of the $10,000 total), Program Limit: $5,000 – total donations eligible for matching
Refunds of Donations:
Funds deducted from your paycheck are considered to have been donated to a nonprofit organization and cannot be refunded unless the nonprofit has gone out of business. If you choose to stop payroll deductions associated with your Giving Campaign donation, the stop request will be processed as soon as possible; however, it may take up to two pay cycles for the payroll deductions to stop. Funds deducted from your paycheck during this processing time cannot be refunded to you. You may stop your Giving Campaign payroll deduction by e-mailing your request to AetnaFoundation@aetna.com.
The Aetna Foundation establishes guidelines for all programs. The Aetna Foundation reserves the right to change or discontinue any of its programs at any time. The Aetna Foundation shall also determine the interpretation, application, and administration of the provisions of these programs, and its decisions shall be final.
