Becker's Healthcare August 7, 2024
Medicare Advantage costs could rise in the second half of 2024, CVS Health CEO Tom Cowhey told investors.
On an Aug. 7 call, Mr. Cowhey said costs in inpatient care, dental and pharmacy all rose toward the end of the second quarter. The company’s guidance for the rest of the year reflects that costs in the second half of the year could be higher than the first, the CFO said.
CVS Health cut its 2024 earnings guidance based on the performance of its insurance business. It expects to earn between $4.95 and$5.20 per share in 2024, down from its previous estimate of at least $5.64.
If the current trend continues, CVS may have to dip into its...
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