Aetna Plans To Fill Dependent Coverage Gap

HARTFORD, Conn. -- Aetna Inc. became on Wednesday the latest health insurer to offer a coverage extension until this fall for young adults covered by their parents insurance.

The Hartford, Conn., company said it planned, starting June 1, to extend coverage for all dependents who would otherwise become too old to remain on parental coverage.

Under the health care reform law passed last month by Congress, young adults will be able to stay on, or return to, a parent's insurance plan until age 26 starting with insurance coverage that renews after Sept. 23.

Aetna competitors WellPoint Inc., UnitedHealth Group Inc. and Humana Inc. all announced similar extensions into September earlier this week.

UnitedHealth said its extension starts immediately and extends coverage for plans offered through the insurer's UnitedHealthcare unit for graduating college students. WellPoint's extension also starts June 1 and extends coverage to all dependents.

WellPoint, which operates Blue Cross and Blue Shield plans in several states, UnitedHealth and Aetna are the three largest publicly traded health insurers.

Humana, the fifth largest insurer based on enrollment, announced a coverage extension on Monday as well.

Aetna shares fell 50 cents to $31.47 in Wednesday afternoon trading; WellPoint dropped $1.16 to $58.68; UnitedHealth fell 74 cents, or 2.4 percent, to $30.24; and Humana dropped 79 cents to $44.38.