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News Release: 99-04
GRAY DAVIS, Governor
Date: 03/25/99
WILLIAM KENEFICK, Acting Commissioner
Department of Corporations to Hold Hearings on Aetna U.S. Healthcare Acquisition of Prudential Healthcare Plan
Sacramento, February 25, 1999 — The Department of Corporations today announced it will hold hearings to receive comments on the proposed acquisition of Prudential HealthCare Plan of Calif., Inc. by Aetna, Inc. The Department of Corporations has the responsibility in California for licensing and regulation of the health care service plans. The Hearings will be held in Los Angeles on March 3, and in San Francisco on March 4, 1999.
Los Angeles - Wednesday, March 3, 1999 at 10:00 a.m
State Building
107 S. Broadway
Room 1138
Los Angeles, CA
San Francisco - Thursday, March 4, 1999 at 10:00 a.m.
455 Golden Gate Avenue
Room B-201
San Francisco, CA
The Department has conducted hearings in the past with respect to similar health plan acquisitions. The Department of Corporations licenses and regulates health care service plans pursuant to the Knox-Keene Health Care Service Plan Act of 1975, as amended. Aetna U.S. Healthcare of California (dba Aetna Health Plans of California, Inc.) Aetna Healthcare Dental Plan of California (dba Aetna Dental Care of California, Inc.) and Prudential Health Care of California, Inc. (dba PRUCARE PLUS) are licensed health care service plans. Prudential Health Care Plan of California, Inc. offers medical and dental health care services.
Sign-up sheets for speakers will be available at the public hearing. All speakers are encouraged to leave a written copy of their comments with the hearing officer. The Department also solicits written comments from the public. Written comments should be submitted no later than Friday, March 5, 1999 to:
Barbara Yonemura, Senior Corporations Counsel
Health Plan Division
Department of Corporations
980 - 9th Street, Suite 500
Sacramento, CA 95814
Under State law, the Department of Corporations has responsibility for ensuring plans provide accessibility and continuity of care. Department review will also focus on the financial solvency of the plans, the strength of the doctor-patient relationship, and the acquisition's affect on enrollees in the areas served by these plans.
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Editor's Note:
As of July 1, 2000 the Health Plan Program and the administration of the Knox-Keene Health Care Service Plan Act of 1975, as amended by the 1999 HMO reform legislation, has transferred to the new Department of Managed Health Care (www.dmhc.ca.gov).