CVS Reports Strong Overall 3Q Results Despite High MA Utilization
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Nov 03, 2023
In the third quarter, CVS Health Corp. performed well overall, but the firm’s health insurance division was a drag on profits due to higher-than-expected utilization, especially in Medicare Advantage. However, a big gain in MA Star Ratings could bode well for the firm’s health benefits division going forward.
CVS faced a higher-than-expected medical loss ratio (MLR) in its health benefits division, Aetna, exceeding the Wall Street consensus by 140 basis points. That high utilization primarily took place in Aetna’s MA book of business, according to CVS executives.
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