Aetna to sell Medicare drug business to WellCare

Health insurer Aetna is selling all of its standalone Medicare Part D prescription drug plan business to a subsidiary of WellCare Health Plans.

The divestiture is subject to the completion of CVS Health’s proposed $69 billion acquisition of Aetna. The divested business had an aggregate of approximately 2.2 million members at June 30, 2018.

The agreement includes both individual and group standalone Part D members. Aetna said it will provide administrative services to, and retain the financial results of, the divested business through 2019. 

Aetna noted that its individual or group Medicare Advantage, Medicare Advantage Part D or Medicare Supplement products or plans will not be impacted by this sale.