On September 26, 2018, Aetna signed an agreement to divest all of Aetna’s standalone Medicare Part D business to a subsidiary of WellCare Health Plans, Inc. (WellCare).
You can read the announcement here.
There are several important elements of this announcement to highlight:
- The sale includes both Individual and Group standalone Part D members.
- This transaction does not impact Individual Medicare Advantage (MA), integrated Medicare Advantage with Part D (MAPD) and standalone (MA-only) Group Medicare Advantage, Medicare Supplement, Ancillary, or Commercial plans and products.
- The transaction will not initially impact your broker contract and its terms with regard to the divested standalone Medicare Part D business during the 2019 benefit year.
- Your commissions for the plans that are impacted by this transaction will continue to be paid by Aetna in accordance with the existing commission agreements for the 2019 benefit year.
- Aetna will continue to administer and provide service and support for the plans that are impacted by this transaction throughout the 2019 benefit year to provide continuity for the Medicare beneficiaries in those plans.
- For the 2020 benefit year, for the divested standalone Medicare Part D business, you will need to become a contracted, appointed, and licensed broker with WellCare.
Regardless of the proposed transactions with CVS Health and WellCare, Aetna's teams remain focused on the Medicare annual enrollment period, and in serving new and existing members with a commitment to great service, care, and value.
In addition, for their Medicare producers, Aetna will provide you with additional details in a subsequent communication following the closing of CVS Health’s acquisition of Aetna, which remains subject to federal and certain state regulatory approvals and the satisfaction of all closing conditions.