CVS Health Corp.’s Aetna unit will exit the Affordable Care Act insurance market in 2026, the company said after reporting better-than-expected first-quarter earnings. The decision follows price hikes on its money-losing plans, which currently cover about 1 million Americans.
The move comes after Chief Executive Officer David Joyner took the helm in October with a mandate to improve the company’s insurance business, which had been struggling after Aetna sold certain plans too cheaply and the federal government dinged it for quality issues. The challenges drew the interest of Glenview Capital Management, whose founder joined the board.
“Our individual exchange ...
