Aetna and CVS Health are making significant moves for 2024, including expanding Medicare Advantage and ACA offerings. Notable updates include free home health visits for Medicare Advantage beneficiaries, extended coverage to millions more in 46 states, and a congressional inquiry into prior authorization practices. Aetna has been recognized as one of America’s top workplaces for parents, while key executive appointments and a focus on value-based care signal their commitment to innovation. Additionally, Aetna is set to offer individual health plans on Maryland’s ACA exchange, joining other major insurers in the state.
Aetna has big plans for 2024, with expansions in both its Medicare Advantage and ACA offerings. Here, we bring you eight key updates about Aetna and its parent company, CVS Health, as reported by Becker on September 18th.
1. Enhanced Benefits: Aetna is set to introduce a valuable addition to its coverage for 2024. Medicare Advantage beneficiaries will now enjoy home health visits from Signify Health at no additional cost.
2. Expanded Coverage: Aetna’s commitment to providing comprehensive healthcare coverage continues to grow. In 2024, they will offer Medicare Advantage prescription drug plans in 46 states and Washington, D.C. This expansion will extend coverage to 2.2 million more Medicare-eligible individuals across 255 new counties.
3. Congressional Scrutiny: Aetna and other major Medicaid managed care organizations are under investigation by lawmakers due to prior authorization denial rates. Sen. Ron Wyden and Rep. Frank Pallone are seeking information on appeal rates, denials, and the use of AI algorithms in the prior authorization process.
4. Workplace Recognition: Aetna earned a spot on Newsweek’s prestigious list of “2023 America’s Greatest Workplaces for Parents and Families,” along with 10 other outstanding organizations.
5. Executive Appointments: Jeff Goddard, former CFO of CVS Caremark, takes on the role of CFO at GuideWell, the parent company of Florida Blue and Triple-S Management, operating Blue Cross Blue Shield plans in Puerto Rico.
6. Healthcare Leadership: Jamie Sharp, MD, former chief medical officer for Medicare at Aetna, assumes the role of chief medical officer at Rippl Care, a startup specializing in dementia care.
7. Value-Based Care: Rich Weiss, Aetna’s Southeast region president, emphasizes the importance of innovative thinking in building and sustaining successful value-based care models. He shares insights on the building blocks of such models and ways payers can support providers in this endeavor.
8. Maryland ACA Exchange: Aetna has filed to offer individual health plans on the Maryland ACA Exchange in 2024. They join three other insurers, CareFirst BlueCross BlueShield, Kaiser Permanente, and UnitedHealthcare, in providing options on the exchange.