Giant Food to reject Aetna insurance cardsPharmacies in...

Maryland Watch

March 20, 1996

Giant Food to reject Aetna insurance cards

Pharmacies in Giant supermarkets will stop honoring Aetna prescription insurance cards Sunday because reimbursement rates are too low, Giant Food Inc. said.

Aetna said other large chains, including Rite Aid, Revco, CVS and Safeway, will continue to fill subscriptions for Aetna subscribers.

Spokesman Barry Scher said Giant has contracts with more than 500 prescription plans, and reviews them all to make sure Giant can remain profitable. In recent months, he said, Giant has declined to renew contracts with about 20 employer groups represented by several insurance carriers.

Tom Greaney, a spokesman for Aetna Health Plans, said, "In order to provide our customers employers and their workers with affordable prescriptions, Aetna Health Plans has negotiated aggressive discounts with participating pharmacies in the mid-Atlantic region." He said the other pharmacies had accepted rates similar to those rejected by Giant.

Mr. Greaney said Aetna has about 136,363 families in prescription plans in Maryland and the District of Columbia, and 8,878 of those filled prescriptions at Giant within the last six months.

Pub Date: 3/20/96

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