INDIANAPOLIS (AP) — Aetna Inc.'s third-quarter net income slipped 1 percent on a charge for an early retirement program, but the performance trumped expectations and the health insurer raised its 2011 earnings forecast.
The Hartford, Conn., company said Thursday that lower-than-expected use of health care continued to help its performance, along with disciplined pricing and medical cost management.
Aetna saw a $117-million, after-tax gain in the third quarter because leftover claims mostly from the second quarter came in lower than expected. The company's health care costs also fell 5 percent to $5.36 billion, mainly because of lower-than-expected use.
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