CVS Cuts 2024 Profit Forecast as Medical Care Drives Costs Higher

Published on February 7, 2024

CVS Health lowered its adjusted profit forecast for 2024 on Wednesday after an increase in medical procedures among older adults in the United States fueled costs in its insurance business in the fourth quarter. The company beat Wall Street estimates for fourth-quarter profit, however, on strength in its drugstores and its pharmacy benefits management (PBM) unit, which negotiates drug prices between insurers and manufacturers. Its shares rose over 3 percent to $76.26 in morning trading. The healthcare conglomerate, like rival Humana earlier, cited a late-year rise in medical care due to outpatient procedures among those enrolled in Medicare Advantage plans. Under those plans, the government pays insurers to manage healthcare for people 65 and older, or those with disabilities....

Continue reading on website
Other news

Biden Administration Charges Operative Over 2022 Ballot Fraud Scheme

February 7, 2024
A political operative who has worked with both major parties has been arrested and charged with election fraud, President Joe Biden’s administration announced.Craig Callaway, 64, former president of the city council in Atlantic City, was arrested and charged with one count of depriving, defrauding, and attempting to deprive and defraud New Jersey residents of a fair and impartially conducted elect

Orange County Sewer District Upgrade Plan Set for Public Hearing

February 7, 2024
The Orange County legislature on Feb. 1 unanimously approved for public hearing a draft upgrade proposal for its only sewer district, one of the final steps in the decade-long plan work.“For well over 12 years, this resolution has been a work-in-progress,” Orange County sewer district No.1 advisory committee chair Peter Tuohy said shortly before the vote.“Advisory board members met continuously ev