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- CVS had a significantly worse first quarter than the healthcare giant — or Wall Street — expected, after its insurance arm failed to adequately prepare for seniors’ high use of medical care, especially in inpatient facilities.
Like its other peers with major MA footprints, CVS plans to focus on improving profits at the potential expense of members. That includes hiking premiums and exiting counties where Aetna thinks it can’t improve profits in the near term. Aetna could lose members as a result, but the size of eventual losses will in large part depend on what the insurer’s competitors do, according to CVS executives.
[EXTERNAL LINK] - CVS slashes 2024 outlook — again — as Medicare seniors drive spending
