Innovation Health Insurance Company and Innovation Health Plan Inc. (“Innovation Health”), the result of a partnership between Aetna and Inova, have received approval from the Virginia Bureau of Insurance to begin offering health insurance and HMO plans to employer groups of two or more members.
Aetna and Inova announced their collaboration and the formation of Innovation Health in May 2012, joining forces in a new way to deliver and finance more affordable, quality health care for employers and residents in Northern Virginia.
“We’re excited to bring Innovation Health products to the Northern Virginia marketplace. Our goal when we formed Innovation Health was to demonstrate that an insurance company and a health care system, working together, can dramatically improve the quality and delivery of patient care while also reducing the costs associated with that care,” said Tom Grote, Aetna’s president for Virginia, Maryland and Washington, D.C. “With these approvals, we’re ready to take the next step.”
Innovation Health will offer fully insured and self-insured group products beginning with effective dates of Oct. 1, 2013. Plans will be available to businesses whose employees primarily are located in Alexandria City, Arlington, Fairfax, Fairfax City, Falls Church City, Fredericksburg City, Loudoun, Manassas City, Manassas Park City, Prince William, Spotsylvania and Stafford. Innovation Health plans also will be offered to individuals both on and off Virginia’s health care exchange. For more information, see www.innovation-health.com.“These plans offer superior health care advantages, including clinical integration and a unique payer/provider collaboration,” said Knox Singleton, CEO of Inova. “Coupled with a comprehensive network of community physicians, emphasis upon preventive care and, when required, treatment at the right facility at the right time, Northern Virginia consumers will enjoy lower costs and greater patient satisfaction.” The partnership combines long-standing local, regional and national experience to deliver sustainable solutions for high-quality, affordable health care. Innovation Health leverages Aetna and Inova services and technology to promote wellness and improve patient outcomes.