CVS Health’s Housing Investments Reach $114 Million As Insurers Address Social Determinants

CVS Health said it invested $114 million in affordable housing in 2020. In this photo, CVS Pharmacy … [+] Technician Leslie Carnejo, left, talks to RN Claire Karas after receiving the COVID-19 vaccine at a CVS in East Boston on Feb. 12, 2021. Some CVS locations began to offer COVID-19 vaccinations to eligible recipients beginning Feb. 12 at select locations in Rhode Island and Massachusetts through a new partnership with the federal government, the company confirmed Thursday. (Photo by Erin Clark/The Boston Globe via Getty Images)

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CVS Health invested more than $114 million in affordable housing last year to address social determinants of health as insurers intensify strategies to reduce costs and improve outcomes beyond covering traditional medical treatments.

In an announcement Tuesday, CVS said the company’s investments over the past year “will lead to the construction and rehabilitation of more than 2,800 affordable housing units in 30 cities, across 12 states.”

The housing initiative, which dates prior to CVS’ purchase of the health insurer Aetna, comes as rival health plans that include Anthem, Centene, Cigna, Humana and UnitedHealth Group are increasingly investing in an array of services and capital projects to address social determinants from food insecurity and loneliness to homelessness…

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From Forbes - February 24, 2021