Aetna 2014 Annual Report Download - page 11

Annual Report- Page 5
Our primary goals for 2015 are to: continue to appropriately price our business and grow membership while
continuing to solve for the financial impacts of the significant fees, taxes and assessments imposed on us by
Health Care Reform; further simplify our products and processes; continue to execute on our Public Exchange
and private health insurance exchange (“Private Exchange”) strategies; transform the provider business model
through provider collaboration (including accountable care organizations (“ACOs”)), and continue to migrate the
Coventry business and operations and achieve the related synergies.
Refer to “Forward-Looking Information/Risk Factors” beginning on page 42 for information regarding other
important factors that may cause our actual results to differ from those currently projected in “Outlook for 2015”
and/or otherwise materially affect us.
Board of Directors Update
Olympia J. Snowe was appointed to our Board in July 2014, for a term that will run until our 2015 Annual Meeting
of Shareholders. Ms. Snowe is a former United States Senator and currently is Chairman and Chief Executive
Officer of Olympia Snowe, LLC, a policy and communications consulting firm. She also serves on our Board’s
Audit Committee and Medical Affairs Committee. With the addition of Ms. Snowe, our Board now consists of
thirteen directors.
Management Update
In July 2014, Harold L. Paz, M.D., M.S., joined Aetna as Executive Vice President, Chief Medical Officer.
Effective January 1, 2015, Karen S. Rohan was appointed President of Aetna. In this role, Ms. Rohan will continue
to lead our Local and Regional businesses, in addition to our National Accounts, Government and Specialty
businesses.
2014 Acquisitions
During 2014, we completed the acquisitions of the InterGlobal group (“InterGlobal”) and bSwift LLC (“bSwift”).
• The InterGlobal group
In April 2014, we acquired InterGlobal, a company that specializes in international private medical
insurance for groups and individuals in the Middle East, Asia, Africa and Europe. The purchase price was
not material.
• bSwift LLC
In November 2014, we acquired bSwift for approximately $400 million. bSwift provides a technology
platform that offers a retail shopping experience for health insurance exchanges and employees nationwide
and benefit administration technology and services to employers.
Refer to Notes 3 and 7 of Notes to Consolidated Financial Statements beginning on pages 90 and 93, respectively
for additional information.
Segment Results and Use of Non-GAAP Measures in this Document
The following discussion of operating results is presented based on our reportable segments in accordance with the
accounting guidance for segment reporting and is consistent with our segment disclosure included in Note 19 of
Notes to Consolidated Financial Statements beginning on page 132. Our operations are conducted in three business
segments: Health Care, Group Insurance and Large Case Pensions. Our Corporate Financing segment is not a
business segment; it is added to our business segments to reconcile our segment reporting to our consolidated
results. The Corporate Financing segment includes interest expense on our outstanding debt and the financing
components of our pension and other postretirement employee benefit plans (“OPEB”) expense (the service cost
and prior service cost components of this expense are allocated to our business segments).