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WCG Closes Acquisition Of Aetna' Medicare Part D Prescription Drug Plans

WellCare Health Plans Inc. (WCG) announced it closed its acquisition of Aetna Inc.'s standalone Medicare Part D prescription drug plans.

As per the terms of the related agreements, Aetna will provide administrative services to the Aetna Part D plans through the end of plan year 2019.

As a result, under generally accepted accounting principles, WellCare does not expect to recognize any revenue from the Aetna Part D plans or it to affect its results of operations until 2020. As of September 30, 2018, WellCare served about 1.1 million standalone Medicare Part D prescription drug plan members.

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