The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on Feb. 7, 2024. CVS Health on Wednesday slashed its full-year profit outlook again and announced a new plan to cut $2 billion in expenses over several years as higher medical costs squeeze the company and the broader U.S. insurance industry. CVS also cut its unadjusted earnings guidance to a range of $4.95 to $5.20 per share, down from at least $5.64 per share. Those ratings help Medicare patients compare the quality of Medicare health and drug plans. Medicare Advantage, a privately run health insurance plan contracted by the federal Medicare program, has long been a driver of growth and profits for the insurance industry.

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Persons: Brian Kane, Karen Lynch, Thomas Cowhey, Katerina Guerraz, Lynch, LSEG, CVS, Cowhey, Caremark Organizations: CVS Health Corp, CVS Health, Aetna, CVS, Affordable, Medicare, UnitedHealth, Humana, Elevance, LSEG Locations: Las Vegas , Nevada