UnitedHealth, AARP extend, broaden deal |
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Tue, 17 Apr 2007 12:51
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MINNEAPOLIS (AP) - Health insurer UnitedHealth Group Inc. and AARP, a nonprofit organization for people over age 50, said Tuesday that they are extending an existing agreement by seven years and broadening its scope.The deal will cover AARP-branded Medicare Advantage, Medicare Part D and Medicare Supplement products across all markets. The agreement will become effective Jan. 1, 2008, and run through Dec. 31, 2014.The deal also includes a commitment to develop and offer new products, services and technologies, with a focus on health and wellness solutions. It also provides for an expanded range of AARP-branded Medicare Advantage plans through a two-year marketplace commitment covering 2008 through 2009.The agreement, which will also continue certain existing products for members age 50 through 64, comes after the company in February lowered its 2007 revenue forecast due to lower-than-expected enrollment in its programs that cater to older people. UnitedHealth now projects revenue of $78 billion for 2007, down from its prior projection of $79.5 billion provided in January.Also, in late March, a UBS analyst downgraded the health insurer's stock in light of slowing commercial business and anticipated cuts to privatized Medicare plans from Congress.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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