Aetna Health Insurance in California

About Aetna Health Insurance in California

Aetna went through a major change the end of 2018 when CVS – the retail drug store chain – acquired Aetna.  Aetna of California is part of a “national” health insurance company – as distinct from a “regional” insurer such as Blue Shield of California which operates exclusively in California. Aetna offers group health insurance plans in all 50 states and in terms of membership is the third largest health insurer in the United States behind United Healthcare and Anthem Blue Cross.  In California, Aetna ranks sixth in number of members among health insurance companies.  As a national health insurance company, Aetna is often a good choice for an employer with employees located in states out side of California.

By way of background, Aetna was founded in 1850 and operated as a life insurer and property and casualty (liability) insurance company for most of the time. In 1996 Aetna sold its property and casualty business to Travelers Insurance Group. That same year it merged with U.S. Healthcare to begin the transition to a health insurance company. In the late 1990’s Aetna purchased New York Life’s health insurance business (NYLCare Health Plans) and Prudential Life Insurance Company’s health insurance business (Prudential Health Care.) In 2000 Aetna sold its financial services and international business to Dutch insurer ING, thus completing Aetna’s transition to a company devoted exclusively to health insurance and related services.  Then, in 2018, CVS acquired Aetna.