CHARLOTTE, N.C.,None — Health insurance company Aetna and Novant Health, which is the parent company of Presbyterian Healthcare services, have reached an agreement to settle a lawsuit out of court after months of negotiations.
Aetna threatened to drop coverage with Novant in May, saying that its rates were higher than the national average. The move would have forced thousands of Charlotte-area patients with Aetna insurance to pay more to visit doctors in the Presbyterian network.
A few weeks later, Novant filed a lawsuit against Aetna, claiming that it gave away trade secrets. The lawsuit said Aetna divulged confidential information about the specifics of how much Novant hospitals charge, including a claim that Novant is "the most expensive health care system in the Carolinas."
Aetna customers who use Novant services received letters advising them to arrange for other medical care by July 1, when Aetna's contract with Novant was scheduled to expire. However, as that date neared, both parties said they were working toward an agreement and were optimistic about the outcome. Aetna then extended existing insurance benefits to Novant patients through the end of July.
The two entities reached an agreement on Monday to settle the lawsuit out of court, a Novant spokeswoman said. She did not divulge the specifics of the settlement.
Previous Stories: June 1, 2010: Novant Files Lawsuit Against Aetna May 12, 2010: Aetna Could Cut Novant, Putting Thousands Out Of Network