From an ousted CEO to shifting financial expectations, CVS Health-backed insurer Aetna has seen an eventful August.
Here are five of the latest updates on Aetna this month, as reported by Becker's since Aug. 2:
1. Aetna was ranked as the best supplemental insurance plan by Newsweek in its rankings of the top 604 corporate brands in America.
2. Aetna will cover intrauterine insemination as a medical benefit for eligible plans, a move the insurer called a "landmark policy change." Intrauterine insemination, or IUI, is usually only covered if employers offer a separate fertility benefit plan.
3. Medicare Advantage costs could rise in the second half of 2024, and CVS Health cut its 2024 earnings guidance based on the performance of Aetna.
4. CVS Health CEO Karen Lynch assumed leadership of Aetna after a difficult year for the insurer. Revenue in CVS' healthcare benefits segment dropped 40% from the second quarter of 2023. Brian Kane, former president of Aetna, is no longer with the company.
5. Aetna members received first access to CVS Health's newly launched, first-of-its-kind environmental initiative aimed at supporting people with health conditions that are vulnerable to extreme weather events. The initiative uses environmental data analytics to provide real-time and localized forecasting on air quality, wildfires, weather and other environmental factors with a patient's medical and pharmacy data. CVS intends to expand the initiative to MinuteClinic and CVS Pharmacy locations in the future.