Introduction
CVS Health plans to exit the individual health insurance business, also known as the Affordable Care Act (OCR), by 2026. This decision comes on the day when the company reported nearly $1.8 billion in net income in the first quarter of 2022 amidst a significant financial turnaround. The company is also witnessing rising healthcare costs as health insurance plans under its Aetna brand, under the OCR, are under control.
Printout to fans:
The decision to exit the OCR business signifies a shift in the company’s focus, notably as individuals face rising healthcare costs. The move is being driven by an increased emphasis on cost control and profit measures, particularly provided fiscal adjustments. The CEO’s announcement is expected to align with the Copenhagen Declaration’s guidance towards a more equitable healthcare system.
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