ENC NEWS AND VIEWS | Eastern Carolina's Place to TALK5 Jan 2023

NC State Treasurer Dale Folwell - Two Years from Now, in 2025, the New Contract with Aetna Will Bring Lower Costs, Transparency, and Generate $140 Million in Administrative Savings

(Raleigh, N.C.)

State Treasurer Dale R. Folwell, CPA, and the State Health Plan (Plan) today announced the award of the Third-Party Administrative (TPA) Services Contract to Aetna. The Plan consists of nearly 740,000 teachers, state employees, retirees and their dependents. The administrative contract, awarded by the State Health Plan Board of Trustees, oversees health care spending of more than $17.5 billion over five years. The new contract reflects a partnership that focuses on transparency and lower costs, with the potential administrative cost savings over the course of the contract equaling $140 million.

The three-year initial service period for the contract begins Jan. 1, 2025, and continues through Dec. 31, 2027, with the option to renew for two, one-year terms.

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