Terms of the deal between Aetna and
Report: Justice Department Will Not Challenge
In a filing with securities regulators, CVS said it believes the divestiture of the Medicare Part D business is a "significant step toward completing" the
CVS said it expects the deal to close in the early part of the fourth quarter, which begins Monday.
The agreement includes individual and group standalone Part D members,
Members will see no change in their service, 2019 benefits, networks, prescription drug choices or premiums as a result of the sale,
Medicare Part D, also called the Medicare prescription drug benefit, is an optional government program to help Medicare beneficiaries pay for self-administered prescription drugs through prescription drug insurance premiums.
The two companies considered a "range of options if any divestitures would be required," he said.
Shares of WellCare, based in
Gupte said Vullo's concerns about the deal are a "speed bump in our view and we expect approval in all pending states."
The acquisition by CVS, which began with storefront pharmacies and built itself into a pharmacy benefits manager, would represent a new direction in health care. For
CVS has said it will keep
(c)2018 The Hartford Courant (Hartford, Conn.)
Visit The Hartford Courant (Hartford, Conn.) at www.courant.com
Distributed by Tribune Content Agency, LLC.