Health insurer Aetna Inc. (AET – Analyst Report) has made changes to its product UltraCare in an effort to provide enhanced health care service in China. UltraCare encompasses a series of products, namely UltraCare Standard, UltraCare Select, UltraCare Comprehensive and UltraCare Elite. Through these, Aetna takes care of the medial needs of Chinese people as well as expatriates based in that country.
The UltraCare suite is distributed in China by domestic company Starr China, which is overseen by Aetna (Shanghai) Enterprise Service Co. Ltd., a unit of Aetna.
The redesigning of the product follows the Chinese government’s requirement of superior health insurance products. This is one of the steps taken by the government to fulfill its goal of providing every single person in the country with access to modern health-care service.
The redesigned product is believed to effectively take care of the health care needs of the population. Those subscribing to the improved UltraCare will enjoy the benefit of both domestic and global coverage.
Serious illnesses such as cancer and congenital conditions will get specialized medical care under the new program. UltraCare will also cover vision and hearing tests, and increase dental limits and outpatient benefits.
The plan would also educate members on how to take care of their health with the help of various health management solutions.
In Jan 2014, another U.S. health insurer with a significant presence in China, Cigna Corp. (CI – Analyst Report), enhanced its product line with the launch of two insurance products – group term life and AD & D (Accidental Death & Dismemberment) in the country.
Aetna carries a Zacks Rank #3 (Hold). Better-ranked stocks include Triple-S Management Corp. (GTS – Snapshot Report) and Centene Corp. (CNC – Snapshot Report). While Triple-S Management sports a Zacks Rank #1 (Strong Buy), Centene Corp. carries a Zacks Rank #2 (Buy).
Date: September 24, 2014