Aetna 3Q profit soars, issues strong forecast
The nation's third-largest insurer balanced a 5-percent drop in revenue with a bigger decrease in health care costs and improvements in its Medicare Advantage business. Overall net income jumped 39 percent, to
While detailing third-quarter results Tuesday,
In the third quarter,
Health insurance is
But the insurer and its competitors also have been growing their business tied to government-funded Medicare and Medicaid programs.
Insurers also have been scaling back their presence in another government-backed market: the ACA's marketplaces. The sign-up window for 2018 coverage starts Wednesday, and
Overall,
Analysts expected earnings of
The new forecast also is well above
Shares of the
Analysts say a combined company could have several advantages for corralling costs and that it would be better equipped to manage customer health and help people avoid expensive hospital trips.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a
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