Health Care Benefits — Adjusted operating income (loss)
CVS Health Health Care Benefits — Adjusted operating income (loss) decreased by 76.0% to $314.00M in Q3 2025 compared to the prior quarter. Year-over-year, this metric grew by 134.0%, from -$924.00M to $314.00M. Over 2 years (FY 2021 to FY 2023), Health Care Benefits — Adjusted operating income (loss) shows an upward trend with a 5.5% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase indicates improved underwriting performance, better cost management, or higher premium growth.
Detailed definition
This represents the profitability of the health insurance segment after accounting for medical costs and operating expen...
Peer comparison
Standard operating income metric used by all publicly traded health insurers to report segment performance.
cvs_segment_health_care_benefits_adjusted_operating_income_lossHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.61B | $1.11B | $510.00M | $1.75B | $1.83B | $1.54B | $858.00M | $1.82B | $1.54B | $1.54B | $676.00M | $732.00M | $938.00M | -$924.00M | $1.99B | $1.31B | $314.00M |
| QoQ Change | — | -31.5% | -53.9% | +243.3% | +4.6% | -15.7% | -44.4% | +112.6% | -15.5% | -0.3% | -56.0% | +8.3% | +28.1% | -198.5% | +315.7% | -34.4% | -76.0% |
| YoY Change | — | — | — | — | +13.4% | +39.6% | +68.2% | +4.2% | -15.8% | -0.5% | -21.2% | -59.9% | -39.1% | -160.2% | +172.3% | +39.4% | +134.0% |
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Frequently Asked Questions
- What is CVS Health's health care benefits — adjusted operating income (loss)?
- CVS Health (CVS) reported health care benefits — adjusted operating income (loss) of $314.00M in Q3 2025.
- How has CVS Health's health care benefits — adjusted operating income (loss) changed year-over-year?
- CVS Health's health care benefits — adjusted operating income (loss) increased by 134.0% year-over-year, from -$924.00M to $314.00M.
- What is the long-term trend for CVS Health's health care benefits — adjusted operating income (loss)?
- Over 2 years (2021 to 2023), CVS Health's health care benefits — adjusted operating income (loss) has grown at a 5.5% compound annual growth rate (CAGR), from $5.01B to $5.58B.
- What does health care benefits — adjusted operating income (loss) mean?
- The core operating profit of the health insurance segment, excluding non-recurring items.