CVS Health paid an undisclosed sum to acquire Hella Health, according to the Medicare Advantage brokerage's founder.
Hella Health debuted in 2020 and claims to offer more than 3,000 Medicare plans from insurers such as CVS Health subsidiary Aetna, UnitedHealth Group subsidiary UnitedHealthcare and Humana.
Related: Marketing limits could shake up Medicare Advantage market
“Adding Hella Health to CVS Health’s family of companies furthers CVS Health’s commitment to enhancing digital capabilities — particularly for seniors,” Hella Health founder and CEO Rafal Walkiewicz wrote on LinkedIn last Thursday. “Through this combination, CVS Health will expand its multi-payor technology platform to include a wide range of insurance offerings, supported by trusted advisors and agents, to provide a simple, direct-to-consumer Medicare shopping and enrollment experience,” he wrote. Hella Health published the same statement on its website.
CVS Health declined to comment. Hella Health did not respond to an interview request.
Medicare Advantage marketing is under scrutiny on Capitol Hill and has been subject to stricter regulatory scrutiny under President Joe Biden's administration. For example, the Centers for Medicare and Medicaid Services issued a final rule April 4 that caps how much insurers may pay agents and brokers and imposes stronger transparency requirements on marketers.