CVS Insurance Acquisition: What You Need to Know

CVS Health Corporation, the largest pharmacy health care provider in the United States, made a landmark acquisition in 2018 when it purchased Aetna, one of the country’s largest health insurance companies. The merger, valued at $69 billion, created a healthcare giant that aims to revolutionize the way healthcare is delivered to consumers. Here’s what you need to know about the CVS Insurance Acquisition.

What is CVS?

CVS Health Corporation is a healthcare company that operates in the United States, Puerto Rico, and Brazil. The company’s business model is centered around providing pharmacy services and retail health care through its network of CVS Pharmacy locations. CVS also operates a mail-order pharmacy, specialty pharmacy, and long-term care pharmacy services.

CVS’s retail locations offer a wide variety of services, including prescription drugs, over-the-counter medications, health and beauty products, and general merchandise. The company has over 9,900 locations across the United States, making it one of the largest retail pharmacy chains in the country.

What is Aetna?

Aetna is an American managed health care company that sells traditional and consumer-directed health care insurance plans and related services, such as medical, pharmaceutical, dental, and behavioral health services. Aetna serves an estimated 38 million people in the United States and has a broad portfolio of health insurance products.

Aetna is a pioneer in consumer-directed healthcare and has been at the forefront of developing new and innovative healthcare models that prioritize patient autonomy and choice.

What is the CVS Insurance Acquisition?

The CVS Insurance Acquisition is the merger of CVS Health Corporation and Aetna. The deal was first announced in December 2017 and was officially completed in November 2018. The acquisition was valued at $69 billion, making it the largest healthcare insurance deal in history.

The CVS Insurance Acquisition aimed to create a new kind of health care company by combining the strengths of both CVS and Aetna. CVS’s retail pharmacy locations and health care services were combined with Aetna’s health care insurance products to create a unified health care delivery system that puts consumers at the center.

What are the benefits of the CVS Insurance Acquisition?

The CVS Insurance Acquisition is expected to have several benefits, including:

How will the CVS Insurance Acquisition impact consumers?

The CVS Insurance Acquisition is expected to have a significant impact on consumers by making healthcare more convenient, affordable, and accessible. Here are some of the ways that consumers are likely to be impacted:

Expanded services

With the merger of CVS and Aetna, consumers are likely to have access to a wider range of health care services. For example, CVS’s MinuteClinic locations may be able to provide more extensive care, including managing chronic healthcare conditions such as diabetes or asthma.

Lower costs

One of the primary goals of the CVS Insurance Acquisition is to lower healthcare costs. By reducing inefficiencies and streamlining healthcare delivery, the companies hope to make healthcare more affordable and accessible for consumers.

Improved healthcare outcomes

The combined companies aim to improve healthcare outcomes by creating a more coordinated and personalized approach to healthcare delivery. By integrating health care services and insurance products, patients are likely to receive more effective treatment and care.

Conclusion

The CVS Insurance Acquisition is a landmark moment in the history of American healthcare, bringing together two industry leaders to create a new kind of healthcare company. The merger is expected to bring many benefits to consumers, including lower healthcare costs, expanded services, and improved healthcare outcomes. As the healthcare landscape continues to evolve, the CVS Insurance Acquisition is likely to be a significant factor in shaping the future of healthcare delivery in the United States.