ACA Health Insurance Plans & Coverage | Aetna CVS Health (2024)

FAQs

What health insurance owns CVS? ›

CVS Health Corporation (previously CVS Corporation and CVS Caremark Corporation) is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands.

Aetna and MinuteClinic, LLC (which either operates or provides certain management support services to MinuteClinic-branded walk-in clinics) are part of the CVS Health® family of companies.

Three important efficiencies promised by this merger are obvious: a reduction in the cost of clinical care and emergency room visits, improved care coordination for patients and an increase in the customer base for the CVS MinuteClinic walk-in system for basic care.

Beginning January 1, 2024, subscribers enrolled in an Aetna CVS Health Individual and Family Plan will now have up to a $100 annual allowance, or $25/quarter, for over-the-counter CVS Health® brand products at CVS retail stores and online — from pain relievers and cold medicine to bandages and more.

The CVS-Aetna deal is the biggest health care merger in U.S. history. The AMA immediately began analyzing the merger's likely impact on competition.

CVS Health to Acquire Aetna; Combination to Provide Consumers with a Better Experience, Reduced Costs and Improved Access to Health Care Experts in Homes and Communities Across the Country. WOONSOCKET, R.I. and HARTFORD, Conn., Dec.

CVS Pharmacy used to be a subsidiary of Melville Corporation, where its full name was initially Consumer Value Stores. Melville changed its name to CVS Corporation in 1996 after Melville sold off many of its nonpharmacy stores. The last of its nondrugstore operations were sold in 1997.

Remember, Aetna and Coventry are the same company, so you and your patients may see either name or logo on the communications we send to you. We're always working to improve your experience. So if you have any questions or concerns, please call us. You can reach us at the number on your patients' ID cards.

CVS Health Corporation

Melville Corporation

Amidst all the buzz surrounding the merger, this article elucidates the motivations behind it, including operational cost-cutting, expanded services as a competitive advantage, and threats from both Amazon and UnitedHealth.

Who bought out Aetna? ›

2017: On December 3, 2017, CVS Health announced the acquisition of Aetna for $69 billion. Larry Merlo became chief executive of the two brands. Aetna CEO Mark Bertolini resigned and Aetna President Karen S. Lynch took over Aetna operations.

CVS also has one of largest pharmacy benefits managers through CVS Caremark and a major Medicare Part D plan sponsor through its SilverScript unit. The final deal valued Aetna at $212 per share, CVS said in a press release, or about $70 billion, up from the previously agreed upon $207 per share, or roughly $69 billion.

Please continue to do one of the following: Mail your check or money order. Pay with a credit card online at AetnaMedicare.com/PayYourPremium. Pay with cash, a credit card or your debit card at your local CVS Pharmacy®

You can use the Aetna Extra Benefits card to buy groceries, household, and OTC items at eligible retail stores, like Kroger and Walmart. For transportation, utilities, and rent assistance, you can pay for the service directly with the card.

Inform the cashier that you have the OTCHS benefit and present your member ID card before the cashier begins to scan products. Your insurance card is used to verify eligibility, not as a form payment. You can also cut out and present the QR Code to the store colleague at the register to assist with the transaction.

CVS Health and Aetna have closed their $69 billion merger. CEO Larry Merlo has outlined CVS' vision for new stores that will include added health services. CVS and Aetna announced the deal in December 2017 and received preliminary approval from the Department of Justice in October.

CVS Health Corporation

CVS Caremark / Parent organization

In March 2007, Caremark merged with CVS Corporation to create CVS Caremark.