Rising claims from the company’s Medicare Advantage coverage have hurt CVS Health for much of this year and contributed to it its repeated outlook cuts. Medicare Advantage plans are privately run versions of the federal government’s coverage program mainly for people age 65 and older. ufabet  

The company has been operating “well below its potential and has fallen short in its investment and actuarial approach in recent years,” Glenview Capital Management said in a statement issued earlier this month. ufabet  

The company cut its financial expectations for a third time this year in August, hurt by growing claims from its Medicare Advantage coverage, and Lynch said then that she was taking over leadership of the insurance segment. ufabet  

CVS Health runs one of the nation’s largest drugstore chains and a huge pharmacy benefit management business that operates prescription drug coverage for employers, insurers and other big clients. It also covers nearly 27 million people through its Aetna insurance arm. ufabet

Lynch will be replaced by veteran CVS Health executive David Joyner, who will attempt to steer the company through rising costs to its health insurance business, slumping drugstore sales and growing investor pressure. All major pharmacy chains are attempting to navigate a drastically changed landscape, facing competition online and elsewhere. uf