Divestiture of Aetna’s Standalone Medicare Part D Plans to WellCare
Silverscript & Aetna Acquitistion: Individual Medicare Sales Agent FAQ’s
When will this change take effect?
Aetna signed an agreement to divest all of Aetna’s standalone Medicare Part D business to a subsidiary of WellCare Health Plans, Inc. (WellCare). The agreement is subject to take effect January 1, 2019.
What plans will this divesture impact?
This transaction will impact Aetna’s standalone Medicare Part D business, which includes its Individual and Group PDP Plans. All other plans and products, including our Individual Medicare Advantage (MA), integrated Medicare Advantage with Part D (MAPD) and standalone (MA-only) Group Medicare Advantage, Medicare Supplement, Ancillary, Medicaid and Commercial plans and products, are not impacted by this sale.
Will I continue to be paid the same for the annual open enrollment period that began on October 15th, 2018?
Yes. As long as you are appropriately licensed, certified, if required, and appointed, you will continue to receive compensation as set forth in your broker contract with Aetna through the 2019 plan benefit year with respect to the divested standalone Medicare Part D business. You will need to become a contracted, appointed and licensed broker with WellCare to continue to sell or refer the divested standalone Medicare business for the 2020 plan benefit year. Aetna will be providing you with more details in a subsequent communication.
What services will Aetna continue to administer for the divested Aetna standalone Individual and Group PDP Plans?
All of them. For the remainder of the 2018 plan year and for the 2019 plan year, Aetna will continue to administer all of the services in the same manner that we did prior to the divestiture, except WellCare will be responsible to CMS for compliance oversight. We will remain responsible for commission payments, enrollment, billing, claims and appeals processing, customer service, and all other services we have historically provided. These services will be provided using the same employees, vendors and administrative platform systems that Aetna ordinarily uses to service these plans.
Will members’ plans and costs, such as premiums, copays and deductibles, be the same?
Yes. There will be no changes in the 2019 plan year benefits in the filed Aetna standalone Medicare Part D plans, or in applicable premiums, copays, deductibles or any other member costs for the 2019 plan year as a result of the divestiture of Aetna’s standalone Medicare Part D plans to WellCare.