Aetna’s Brian Kane gone as president after less than a year. Medicare costs continue to roil insurers.

CVS hosted an eventful quarterly earnings call Wednesday morning. It announced that Brian Kane, president of CVS-owned Aetna, has left after less than a year heading the health insurance giant.

Aetna has been grappling with significant declines in it critical satisfaction ratings with its Medicare Advantage plans in 2023. Medicare recipients enrolled in Medicare Advantage plans have been seeking and receiving more medical services than expected as costs increase, squeezing profits. for insurers.

Aetna managers have been warning employees to expect layoffs.

Published August 7, 2024.