What insurer is owned by CVS?

What insurer is owned by CVS?

Aetna is a well-established insurance provider with a history dating back to 1853. It started as a mutual fire insurance company in Hartford, Connecticut, and has since transformed into one of the largest health insurers in the United States. Aetna offers a wide range of insurance products, including medical, dental, vision, and pharmacy benefits. The company serves individuals, Medicare and Medicaid beneficiaries, as well as employers of all sizes.

The acquisition of Aetna by CVS Health was completed in November 2018, making CVS Health one of the only healthcare companies in the United States that combines pharmacy services, retail clinics, and health insurance under one roof. This integration allows CVS Health to provide a more comprehensive and coordinated approach to healthcare, bringing together pharmacy services, primary care, and insurance coverage to improve patient outcomes and reduce costs.

By owning an insurance subsidiary, CVS Health is able to offer its customers a complete healthcare solution. Patients can visit CVS pharmacies for their prescription medications, receive care at MinuteClinics for minor illnesses and injuries, and have access to a network of healthcare providers through Aetna's insurance plans. This integrated approach aims to simplify the healthcare experience and provide personalized care to individuals throughout their healthcare journeys.

Additionally, CVS Health's ownership of Aetna has allowed for the development of innovative healthcare initiatives. For example, CVS Health has implemented HealthHUBs, which are expanded retail locations that offer a broad range of healthcare services, including primary care, chronic disease management, and wellness programs. These HealthHUBs leverage the capabilities of CVS pharmacies, MinuteClinics, and Aetna's insurance coverage to provide a more holistic approach to healthcare.

The integration of Aetna into CVS Health has not been without controversy, as some critics argue that the merger could lead to reduced competition in the healthcare industry. However, CVS Health maintains that the acquisition will improve patient outcomes and reduce costs through better coordination of care and increased access to services.

In conclusion, CVS Health owns the insurance subsidiary Aetna, which allows the company to offer a more comprehensive healthcare solution to its customers. This integration of pharmacy services, retail clinics, and insurance coverage positions CVS Health as a leader in the evolving healthcare industry, with a focus on improving patient outcomes and simplifying the healthcare experience through innovative initiatives and coordinated care.

Frequently Asked Questions

Aetna is the insurer owned by CVS.

CVS acquired Aetna on November 28, 2018.

The purpose of CVS acquiring Aetna was to create a vertically integrated healthcare company that combines pharmacy services with health insurance to provide more coordinated and convenient care for consumers.

The benefits of the CVS-Aetna merger include improved access to healthcare services, cost savings, enhanced coordination of care, and a more personalized and convenient healthcare experience for consumers.

Yes, Aetna insurance will still be available under its own brand. While CVS and Aetna have integrated their operations, Aetna continues to operate as a separate business unit within the CVS Health company.