Dear Editor: Another outrageous example of poor judgment by another HMO has sent America’s blood pressure soaring and provoked demands for overall industry reform. Richard Huber became CEO of Aetna, one of the nation’s largest HMO’s in July 1997. Under his management, Aetna’s stock decreased 66 percent in value, plummeting from $114 to $38.50 a share–and not because Aetna was spending more on good patient care. So the Aetna Board decided that Huber had to go. Not to hurt his feelings, the Board voted to give him a $3.4 million farewell package, along with an office and private secretary for a year. That $3.4 million belongs to the Aetna HMO enrollees who expected it to be used to maintain and restore their health. That’s why they and their employees pay premiums. HMO’s must be forced to put the health and well-being of their enrollees ahead of their personal profits and the enrichment of canned executives. HMO’s too often deny care to patients, delay payments to providers and lie to regulators and the public. The failures of New Jersey HMO’s HIP and APP were caused by mismanagement, greed, and quite possibly fraud. While Mr. Huber snickers all the way to the bank, HMO enrollees are in pain. It’s past time to reform the entire system. The financial stability of HMO’s should only be a concern when it begins to affect how an HMO will deliver its health services. HMO’s are supposed to be in business to care for patients and the system needs to be reformed so that it again becomes the purpose. Assemblywoman Joan M. Quigley Democratic Parliamentarian D-Jersey City