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CVS Pharmacy: New Support Program for Healthcare Coverage

To encourage more people to enroll with any of the company's health care coverage options, recently, CVS/pharmacy - the retail division of CVS HealthCVS - introduced a complete set of health insurance tools, resources and information. These options are available at the Health Insurance Information Center of the company, a one-stop online destination for customers with health insurance questions related to CVS' coverage options.

The coverage options include Medicare Part D, Health Insurance Marketplace or Medicaid health plan. Among these, Medicare Part D's annual enrollment has begun from Oct 15, 2015 and will continue till Dec 7. The same for Marketplace plans will be available from Nov 1, 2015 through Jan 31, 2016.

According to the company, at the Health Insurance Information Center, along with coverage details, consumers can also determine eligibility and compare the plans. Health Insurance Marketplace Calculator is available on the website can help check the eligibility for subsidies and determine the extent to which a person can spend on health insurance in the Marketplace.

CVS' recent effort to facilitate healthcare insurance information for customers and help them make an optimal choice from among the available options is encouraging. This should lure more customers toward the company's health coverage programs and in turn, enhance business in the Retail Pharmacy group.

Of late, CVS Health has been working hard to expand its foothold in the retail pharmacy space. To bolster its presence in the digital healthcare services market, the company recently formed clinical partnerships with Bethlehem, PA-based healthcare provider - St. Luke's University Health Network and Cincinnati, OH-based TriHealth - a unified health system. Through these new clinical affiliations, these three leading health institutions aim at enhancing patients' access to high-quality healthcare services and improved medication adherence, particularly for those suffering from chronic diseases.

In this regard, the company's recently completed Omnicare acquisition for $12.9 billion and the takeover of Target Corporation's pharmacy business (in June 2015) for $1.9 billion can be deemed pertinent deals.

Currently, CVS Health retains a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader medical space are Walgreens Boots Alliance, Inc. WBA , Baxter International Inc. BAX and NuVasive, Inc. NUVA . All the three stocks carry a Zacks Rank #1 (Strong Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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