Aetna Inc on Tuesday reported a first-quarter profit that beat analyst expectations as customers used medical services lightly and revenue in the health insurer's Medicare and Medicaid businesses rose 7 percent due to higher premiums.The company forecast increases in enrollment and raised its 2013 profit projection to account for its better first quarter. It also added in the negative effects of government cuts to payments for the Medicare health plan for the elderly.In addition, Aetna said that it was preparing for changes in the U.S. healthcare system that will take place in 2014 under President Barack Obama's Affordable Care Act.That law, which has increased the number of preventive services that insurers must offer, is expected to provide insurance to 30 million Americans over a decade.
Aetna Inc. (Aetna) is a diversified healthcare benefits company. Shares of AET traded higher by 2.35% or $1.32/share to $57.48. In the past year, the shares have traded as low as $34.58 and as high as $57.54. On average, 3347100 shares of AET exchange hands on a given day and today's volume is recorded at 1497059.
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