Becker's Healthcare May 26, 2023
CVS Health is expecting Aetna’s operating income to decrease by up to $1 billion next year because the number of its Medicare Advantage members in four star plans has dropped significantly since last year, according to regulatory documents filed May 25 with the Securities and Exchange Commission.
The company said 21 percent of its Medicare Advantage members were enrolled in four star plans for 2023 ratings, compared to 87 percent for 2022 star ratings.
CVS Health executives had told investors in November that the company is expecting a $2 billion decline in 2024 revenue because of its lower Medicare Advantage star ratings combined with the loss of its pharmacy benefits contract with Centene. In October, Centene awarded a $35 billion...
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