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The ‘Right Move’? CVS Will Leave ACA Exchange Business in 2026

  • May 02
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    May 02, 2025

    CVS Health Corp.-owned Aetna plans to exit the Affordable Care Act exchange business in 2026, citing poor performance in the segment. Thomas Cowhey, CVS’s chief financial officer, said during the company’s first-quarter earnings call on May 1 that Aetna projects to lose between $350 million and $400 million this year in the exchange business.  

    Aetna has more than 1.6 million exchange members, according to AIS’s Directory of Health Plans, making it the second-largest insurer in the segment behind Centene Corp., which has more than 4.3 million exchange lives. Aetna had previously departed the exchange market in 2018 during President Donald Trump’s first term before reentering it in 2022 when President Joe Biden was in office.  

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    • Tim Casey

    Tim has been a reporter and editor for newspapers, websites and magazines for more than 20 years, including 10 years covering health care business topics. He has a deep knowledge of the managed care industry and pharmacy benefit management. He also has experience covering medical conferences and clinical and legislative health care issues. In 2014, the Society for Advancing Business Editing and Writing selected Tim as one of 15 journalists to participate in a national symposium on the Affordable Care Act. Tim has a B.A. in Psychology from the University of Notre Dame and an M.B.A. from Georgetown University.

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