Aetna is addressing a financial roadblock for its employees who recently graduated from undergraduate and graduate programs — student loan debt.
In January 2017, the Hartford, Conn.-based insurer will begin matching full-time employees' student loan payments up to $2,000 annually, with a lifetime maximum of $10,000, for qualifying loans. For part-time employees, Aetna will pay $1,000 annually with a lifetime maximum of $5,000. The insurer will pay the loan servicer directly.
Aetna's Student Loan Repayment Program is available to employees who apply for the program within three years of earning degrees from accredited institutions. Aetna predicted about 4,000 employees who graduated since Dec. 1, 2013, could be eligible for the program.
Aetna currently reimburses 80 percent of approved expenses for employees obtaining a degree or taking a job-related course — up to $5,000 for full-time employees and $2,500 for part-time.
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