Aetna Announces New Chief Executive Officer to Lead PayFlex

HARTFORD, Conn.--(BUSINESS WIRE)-- Aetna (NYSE: AET) has named Michael A. DiSimone as the new president and chief executive officer of PayFlex. DiSimone joins PayFlex from Aetna’s Human Resources organization where he currently holds the position of vice president, Global Business Solutions with expansive responsibility across key Human Resources functions including Employee Relations, HR Policy & Compliance, Mergers & Acquisitions, and HR Analytics.

“Michael brings more than 25 years of strong leadership and well-rounded experience working in management, finance, operations and benefits outsourcing. Michael’s vast professional portfolio makes him an outstanding candidate to lead Aetna’s PayFlex business into the future,” said Dan Finke, senior vice president, Consumer Health Products and Services.

DiSimone will be accountable for the overall success of PayFlex, and his responsibilities will focus on leading the organization’s strategy and operations across its portfolio of health financial services solutions.

The appointment of DiSimone as the new PayFlex CEO is part of a planned transition as current president and CEO, Erin Hatzikostas, is expected to retire later this year. Hatzikostas will work together with DiSimone to ensure an effective, thoughtful and seamless transition.

Prior to joining Aetna, DiSimone was the chief operating officer for North America at Mercer where he was accountable for client service delivery and profitability across Mercer’s North America businesses, introducing best practices and innovative approaches. Prior to Mercer he simultaneously served as head of the Global HR Service Delivery and as Chief Control Officer for Human Resources at JPMorgan Chase & Co. Prior to that, DiSimone was senior vice president for the Human Capital Management Solutions Group with Affiliated Computer Services, Inc., where he co-led the total benefits outsourcing business, serving more than 200 corporate clients and two million participants across 50 countries.

DiSimone has a bachelor’s degree in Accounting and an MBA in Finance from Pace University.

About Aetna

Aetna is one of the nation's leading diversified health care benefits companies, serving an estimated 38.8 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental and behavioral health plans, and medical management capabilities, Medicaid health care management services, workers' compensation administrative services and health information technology products and services. Aetna's customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com and learn about how Aetna is helping to build a healthier world. @AetnaNews

About PayFlex

PayFlex is the nation's leading solution for health care accounts - Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs) - Commuter Benefits, COBRA and Direct Billing administration. Our client base is founded on Fortune 500, multi-site employers who prefer a single account-based solution to complement their chosen health plans. Our HSA is our fastest growing product with $3 billion assets under management. We pride ourselves on our financial security protocols and stellar security scorecard results. Not to mention exceptional governance for programs requiring a high focus on compliance, like COBRA. For our members, we make saving and paying for health care simple with our digital platforms so they can focus on what's more important - their health and financial wellness.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181001005841/en/

Aetna Media Contact:

Shelly Bendit, 212-457-0635

BenditS@aetna.com

Source: Aetna