Providence and Aetna reach new multi-year agreement

EVERETT — Providence and health insurer Aetna have agreed on a new contract, securing in-network coverage for 35,000 patients statewide.

The largest health care provider in Washington and the CVS-owned insurance company signed a contract this week after months of negotiations, Providence spokesperson Ed Boyle confirmed Tuesday. After the old contract expired Sunday, patients with Aetna plans would have lost access to more than 35 hospitals, clinics and other care services statewide — including at least 15 hospitals and clinics in Snohomish County — by December.

"We are pleased to have reached an agreement that puts our patients and members first," the companies shared in a joint statement Tuesday.

Providence and Aetna declined to disclose more details, including how long the agreement would last.

The agreement came down to reimbursement rates, a common sticking point between health care providers and insurers. Providence argued for higher reimbursement rates to keep up with care and staffing expenses, as reported in The Seattle Times last week.