Aetna to divest PDP business to Wellcare

[Devin01]

Earlier today, CVS Health and Aetna announced that Aetna has entered into an agreement to sell its standalone Medicare Part D Prescription business to WellCare Health Plans, Inc., with the sale of those assets to be effective as of December 31, 2018.

This is an important step toward Department of Justice (DOJ) approval of the CVS Health acquisition of Aetna. We continue to expect the CVS Health/Aetna transaction to be completed in the fourth quarter of 2018.

We want to reassure you that SilverScript will maintain its current membership and will not be impacted in any way.

Your SilverScript contract, hierarchy, and compensation are not impacted by this sale.

Our SilverScript team remains focused on the Annual Enrollment Period, and in serving new and existing members with a commitment to great service, care and value. We thank you for your continued support.

if you are not contracted and certified with Wellcare you probably won't get paid on your Aetna PDP renewals next year. If you are not contracted with Wellcare it is a good idea to do the certs and fill out the contract. PM me if you are interested in the contract

 

[Rossat]

You will still be paid for the Aetna PDP for 2019. You won’t need to be contracted with Wellcare until 2020, per the announcement from Aetna.

 

[yorkriver1]

With Wellcare, Aetna and Silverscript now all under CVS, if I understand correctly, I counted 9 of the 27 plans in my state are with these 3 brands. 1/3 of the plans, one ownership. Interesting.

 

[somarco]

Vertical integration

 

[craig_ritter]

With Wellcare, Aetna and Silverscript now all under CVS, if I understand correctly, I counted 9 of the 27 plans in my state are with these 3 brands. 1/3 of the plans, one ownership. Interesting.

York, CVS Health is not acquiring Wellcare. Assuming this merger goes through, Aetna will sell it's individual PDP to Wellcare and the CVS/Aetna combination will retain the SilverScript PDP business and the Aetna MA, Med Supp, etc.

 

[yorkriver1]

I found that out this morning. There was a glitch in the link I was given from Wellcare, technical issue, that led me to SilverScript page on AHIP to send my results, so I made the assumption they were in together.
Here is what Wellcare is doing, they are the buyer:
WellCare Health Plans revealed Tuesday that, effective September 1, it has completed its acquisition of Meridian Health Plan of Michigan, Meridian Health Plan of Illinois, and MeridianRx, a pharmacy benefit manager.

The company received the of all required regulatory approvals, and so with the closing of the acquisition, Meridian is now a wholly-owned subsidiary of WellCare.

The acquisition was first announced in May, with the deal worth an estimated $2.5 billion. WellCare said at the time that it would have the top Medicaid membership market share in Michigan and Illinois, increasing its leading market position from four to six states.

WellCare's Medicaid membership is expected to grow by about 40 percent, and its Medicare Advantage presence will likely expand to new markets. A new proprietary PBM platform will be added, and WellCare CEO Ken Burdick said he expects the company to be well-positioned for further growth within government-sponsored programs.