Feb. 16 (UPI) — CVS Health announced Tuesday that it will resume selling individual health coverage plans under the Affordable Care Act next year.
Aetna, which is owned by CVS Health, stopped selling ACA plans in 2018. At the time, the company said a destabilized market — led by former President Donald Trump’s efforts to repeal the federal health law — had prompted its exit.
Tuesday, CVS Health said during an earnings call that the market has since stabilized.
“Our goal is to make health care more accessible, more affordable and simpler,” CVS Health CEO Karen Lynch said in a statement before the call.
“We believe that solving consumer health needs will deliver better health outcomes and lower costs.”
During the call, CVS Health reported 2020 revenues of more than $268 billion, a year-to-year increase of 4.6%.
CVS said during the call Tuesday that it expects COVID-19-related business, including vaccinations, to add as much as $500 million in revenues in 2022.
Since taking office last month, President Joe Biden has taken actions to strengthen the ACA, which was enacted in 2010 when he was former President Barack Obama’s second in command.
Monday, Biden re-opened ACA enrollment until May to allow Americans to buy coverage. The original enrollment period ended in December.
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