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Administaff Adds CIGNA to
Its National Health Insurance Carrier Network
HOUSTON, Apr 29, 2002 -- Administaff,
Inc. (NYSE: ASF), the nation's leading Professional Employer Organization
(PEO), today announced the expansion of its national health insurance
carrier network with the addition of an Exclusive Provider Program
(EPP) offered by CIGNA HealthCare. The new network option will be
available to worksite employees who live in EPP-covered areas in
seven states -- Connecticut, Massachusetts, Michigan, Nevada, North
Carolina, Oklahoma and Pennsylvania.
"The addition of CIGNA's EPP option supports our strategy of
providing Fortune 500-level benefits to client owners, worksite
employees and their families," said Paul J. Sarvadi, Administaff's
president and chief executive officer.
Administaff launched its new network of health
insurance carriers on January 1, 2002. In addition to CIGNA, the
network includes UnitedHealthcare, which serves as the primary carrier,
along with PacifiCare, Kaiser Permanente and Blue Cross/Blue Shield
of Georgia.
The CIGNA HealthCare companies comprise one
of the nation's leading providers of health-benefit programs, with
products marketed in all 50 states and managed care networks serving
45 states, the District of Columbia and Puerto Rico. CIGNA HealthCare
currently provides medical coverage through managed care and indemnity
programs to approximately 14.4 million people, dental care and mental
health coverage to approximately 27 million, vision care coverage
to approximately 4 million and health care and disability management
services to approximately 25 million people. CIGNA HealthCare refers
to various operating subsidiaries of CIGNA Corporation (NYSE: CI).
These subsidiaries include Connecticut General Life Insurance Company,
CIGNA Vision Care, Inc., Tel-Drug, Inc. and its affiliates, CIGNA
Behavioral Health, Inc., Intracorp, and HMO or service company subsidiaries
of CIGNA Health Corporation and CIGNA Dental Health, Inc. Products
and services are provided by these subsidiaries and not by CIGNA
Corporation.
Administaff is a leading personnel management
company that serves as a full-service human resources department
for small and medium-sized businesses throughout the United States.
With 2001 revenues of $4.4 billion, Administaff ranks number 376
on the Fortune 500 list and number 11 on the Barron's 500 list of
best performing companies ranking of how well companies have performed
for investors. The company also is included on Fortune's list of
"America's Most Admired Companies," the Forbes Platinum
400 list of the best big companies in America and the InformationWeek
500 list of leading information technology innovators.
Administaff's Personnel Management System includes
employment administration, benefits management, government compliance,
recruiting and selection, employer liability management, training
and development, performance management and owner support. These
core services are complemented by an eBusiness strategy that includes
the Employee Service Center(SM), an interactive eService platform
that provides clients and worksite employees with information and
resources to help maximize the benefit of their Administaff services.
The Employee Service Center also features My MarketPlace(SM), an
eCommerce portal that offers value-added products and services from
best-of-class providers such as American Express, AT&T, Continental
Airlines, Dell, IBM and Spiegel.
Administaff has 37 sales offices in 20
major markets. For additional information, visit the company's Web
site at www.administaff.com .
(Note: The statements contained in this
press release that are not historical facts are forward-looking
statements that involve a number of risks and uncertainties. Therefore,
the actual results of future events described in such forward-looking
statements could differ materially from those stated in such forward-looking
statements. Among the factors that could cause actual results to
differ materially are: (i) changes in general economic conditions;
(ii) regulatory and tax developments; (iii) changes in Administaff's
direct costs and operating expenses; (iv) the estimated costs and
effectiveness of capital projects and investments in technology
and infrastructure; (v) Administaff's ability to effectively implement
its eBusiness strategy; (vi) the effectiveness of Administaff's
sales and marketing efforts, including the company's marketing arrangements
with other companies; and (vii) changes in the competitive environment
in the Professional Employer Organization industry. These factors
are described in further detail in Administaff's filings with the
Securities and Exchange Commission.)
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