I've written about health care for three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy.
to the year-ago period thanks to higher costs to treat patients insured by Medicare plans the company sells. In this file photo, a CVS Health product is displayed at a store in North Andover, Mass., Monday, May 3, 2021. CVS Health reported first quarter profits were cut almost in half to $1.1 billion compared to the year-ago period thanks to higher costs to treat patients insured by Medicare plans the company sells.
“Adjusted operating income decreased 59.9% for the three months ended March 31, 2024 compared to the prior year primarily driven by increased Medicare utilization, the unfavorable impact of the previously disclosed decline in the company’s 2024 Medicare Advantage star ratings, as well as an unfavorable year-over-year impact of prior-year development,” CVS said in its earnings report released Wednesday.
Total company revenues increased 3.7% to $88.4 billion thanks to what the company described as “strong growth in the health care benefits and pharmacy & consumer wellness segments, partially offset by a decline in our health services segment.” 300 Billion Perfect Storm Bitcoin Price Crash Under 60 000 Suddenly Accelerates As Ethereum XRP And Crypto Brace For Shock Fed FlipCVS’ total medical membership in its health plans jumped by 1.1 million to 26.8 million as of March 31 of this year compared to Dec. 31, 2023 driven by the company’s Medicare and commercial health insurance businesses. CVS now has more than 4.2 million seniors enrolled in its Medicare Advantage plans compared to 3.4 million as of the end of last year.
CVS Health Medicare Medicare Advantage
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