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First Aetna, CVS Health® branded insurance plan offers value and ease

November 17, 2021 | Health Insurance

A healthcare provider puts a bandage on a young patient's arm while her mother comforts her.

Health insurance will be significantly more affordable for millions of Americans in 2022, thanks to pandemic relief approved by Congress earlier this year. But the ability to sign up for many low- and no-cost plans during the open enrollment window is time-limited.

To help more Americans get health coverage during the pandemic, the American Rescue Plan Act included enhanced premium tax credits for individuals who purchase their own health plans in the Affordable Care Act’s (ACA) health insurance marketplaces.

The ACA’s open enrollment period for 2022 began on Monday, November 1, and closes on Saturday, January 15, 2022. However, those who want coverage for the new calendar year will need to enroll by December 15, 2021.

One option will come from Aetna, a CVS Health company, which is re-entering the ACA individual insurance market in 2022 with the company's first Aetna CVS Health branded insurance product. The plans will be available in select counties in eight states.

The company aims to increase health care accessibility and affordability and improve health equity in local communities.

“With the combined strength of Aetna and CVS Health, we’re uniquely positioned to provide greater value for consumers, particularly the millions of Americans who are uninsured or underinsured,” says Dan Finke, Executive Vice President, CVS Health, President, Aetna.

The company’s new plan combines Aetna’s broad network of coverage with localized care at CVS Pharmacy®, MinuteClinic® and CVS® HealthHUB™ locations.

Richard Weiss, Florida Market President.
"Health care has to be convenient and uncomplicated,” says Richard Weiss, Florida Market President.

“We're really the only carrier that can bring this level of health care providers, pharmacists and retail experiences together in one offering to make health care as convenient as possible for consumers,” says Richard Weiss, Florida Market President, Southeast Territory Leader.

Florida, which has the nation’s highest ACA enrollment, is one of the eight states where the new plan will be offered in 2022.

CVS Health has already started to evaluate expansion within these geographies, Weiss says. “We're also looking at other states to expand into in 2023 and beyond.”

Because cost is also a significant driver of health care decisions for consumers in the individual marketplaces, the new plans feature tiered-benefit designs to accommodate different income levels and innovative features.

MinuteClinic locations, for example, offer virtual health care services and after-hours appointments, so that customers don't have to miss half a day at work to get the health services that they need, Weiss says.

“Health care has to be convenient and it has to be uncomplicated.”