Please ensure Javascript is enabled for purposes of website accessibility

CVS Health's Aetna Insurance Waives Cost-Sharing and Co-Pays for COVID-19 Treatments

By Brian Orelli, PhD - Updated Mar 25, 2020 at 1:57PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The company had already waived co-pays for SARS-CoV-2 tests and for telemedicine services.

Aetna, which is now owned by CVS Health (CVS 2.33%), is waiving cost-sharing and co-pays for members who are admitted to the hospital for treatment of COVID-19 or health complications associated with it. However, they will have to go to in-network facilities to get that benefit.

Earlier this month, Aetna waived co-pays for COVID-19 tests and for those using telemedicine services for any reason. CVS Health didn't give an estimate of how much it expects those waivers will cost the company. CVS Health was trading up by 5% at 1:38 p.m. EDT on Wednesday, while the S&P 500 was up 4.4%.

"We are doing everything we can to make sure our members have simple and affordable access to the treatment they need as we face the pandemic together," Karen S. Lynch, president of the Aetna business unit and an executive vice president at CVS Health, said in a statement.

Doctors in protective suits check on a patient in a restricted area

Image source: Getty Images.

In states that have been hit the hardest by COVID-19, including New York and Washington, hospitals won't have to get advanced approval from Aetna for members requiring hospitalization for the coronavirus. Aetna is also working with hospitals to get patients with unrelated conditions transferred to other facilities or discharged to make room for patients with COVID-19.

In light of the natural anxiety that this pandemic is generating, Aetna is also opening up its Resources For Living employee assistance program to all members, even if that program isn't part of their normal healthcare benefits. The program includes phone support to deal with the emotional impact of the COVID-19 pandemic, as well as referrals to support services in the community. Companies that offer Aetna healthcare will also have access to consultation with Aetna to help them meet the needs of their employees.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

CVS Health Corporation Stock Quote
CVS Health Corporation
CVS
$94.52 (2.33%) $2.15

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
336%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 06/27/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.