In October, CVS Health entered into an agreement with the Department of Justice to move forward with its acquisition of Aetna, with the caveat Aetna would sell its stand-alone Medicare Part D prescription drug plans to WellCare.
WellCare will assume control of Aetna’s 2.2 million-member business, but Aetna will provide administrative services for the Part D business and take on financial risk associated with the unit through 2019. As a result, WellCare doesn’t expect the deal to affect its operations until 2020.
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