CVS Health beat its expectations for growth during Medicare Advantage open enrollment, the company said.
In regulatory filings published Jan. 5, the company said it expects its total Medicare Advantage membership to grow by at least 800,000 in 2024.
"Our stronger than expected 2024 MA enrollment is driven by factors including strong new sales and retention of existing Aetna MA members, with a higher than historical proportion of new sales coming from competitor MA plans," CVS Health said in the regulatory filings.
CVS Health improved its Medicare Advantage star ratings, measures of quality from CMS, significantly for 2024. In 2024, 87 percent of Aetna's membership will be enrolled in plans rated four stars or higher, up from 21 percent in 2023.