Aetna's net income hits $1B in Q3

Aetna saw its net income climb to $1 billion in the third quarter of 2018 as the health insurer heads toward closing its $69 billion sale to CVS Health.

Aetna's total revenue grew 3 percent in the third quarter of this year compared to the same period in 2017, up from $15 billion to $15.5 billion. The health insurer said the gains reflected higher revenue in its healthcare segment, especially its Medicare business, and the sale of its group insurance businesses.

"Aetna's solid third quarter performance builds on the positive momentum from the first half of 2018," Mark T. Bertolini, Aetna chairman and CEO, said in a news release. "Our combination with CVS Health will drive the next phase of Aetna's growth and accelerate our opportunity to help transform the healthcare system."

Aetna's net income grew 19 percent in the third quarter of 2018 to $1 billion. That's compared to $838 million the health insurer posted in the same period of 2017. Aetna attributed its growth in net income to an increase in adjusted earnings and the sale of its group insurance businesses in the fourth quarter of 2017.

Aetna's medical membership grew the most in its commercial ASC, Medicare and Medicaid products. Its membership totaled 22.1 million policyholders as of Sept. 30.

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