Sen. Hwang Statement on Latest Aetna Layoffs

Sen. Tony Hwang, Ranking Senator on the Insurance and Real Estate Committee, today issued the following statement regarding CVS Health Corp. announcing it will slash another 2,900 jobs nationwide, with some of the layoffs likely to take a toll on the Hartford-based headquarters of health insurer Aetna.

“The hits to the ‘Insurance Capital’ keep coming. In the past, I have been troubled and disappointed by CVS’ lack of transparency because the company has been reluctant and slow to disclose the number of layoffs in Connecticut. State officials must demand that transparency and clarity now. I also continue to note that in order to get its takeover of Aetna approved in 2018, CVS promised to maintain 5,291 jobs at Aetna in Connecticut for at least four years. So these additional layoffs are coming a mere two years after the expiration of that agreement. I also continue to highlight how Aetna has sought to pass double-digit health insurance rate hikes for employers with 50 or fewer workers – at the same time as these layoffs are taking effect.”