Dec 5, 2017

Aetna CEO could make $500 million from CVS merger

Aetna CEO Mark Bertolini has a massive payday in store. Photo: Jacquelyn Martin / AP

Aetna CEO Mark Bertolini is in line for a massive payday if CVS Health gains approval to take over his health insurance company. The Wall Street Journal reports Bertolini could get a $500 million golden parachute, a vast majority of which is tied to Aetna stock.

Why it matters: It's a half-billion dollars, potentially making it one of the highest merger-related pay packages. Extremely lavish pay tied to stock has become commonplace in health care, and that compensation arrangement does not give executives strong incentives to control health care spending.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:30 p.m. ET: 838,061 — Total deaths: 41,261 — Total recoveries: 174,115.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 3:30 p.m. ET: 177,452 — Total deaths: 3,440 — Total recoveries: 6,038.
  3. Public health updates: More than 400 long-term care facilities across the U.S. report patients with coronavirus — Older adults and people with other health conditions are more at risk, new data shows.
  4. Federal government latest: The White House and other institutions are observing several models to better understand and prepare cities for when the coronavirus is expected to peak in the U.S.
  5. In Congress: New York Rep. Max Rose deploys to National Guard to help coronavirus response.
  6. 🎧 Podcast: Misinformation in the coronavirus age.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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U.S. coronavirus updates: White House studies models projecting virus peak

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

The White House and other institutions are observing several models to better understand and prepare cities for when the coronavirus is expected to peak in the U.S.

The state of play: The coronavirus is expected to peak in the U.S. in two weeks, but many states like Virginia and Maryland will see their individual peaks well after that, according to a model by the University of Washington's Institute for Health Metrics and Evaluation.

Go deeperArrowUpdated 2 hours ago - Health

FDA authorizes two-minute antibody testing kit to detect coronavirus

Currently, it takes days to produce results from testing kits. Photo: Sergei Malgavko\TASS via Getty Images

The Food and Drug Administration issued an emergency approval Tuesday for a serological testing kit produced by Bodysphere Inc. that can detect a positive or negative result for COVID-19 in two minutes.

Why it matters: Access to testing has improved in the U.S. thanks to commercial labs, but the average wait time for a patient's results is four to five days — with some reports of it taking more than a week.

Go deeperArrowUpdated 2 hours ago - Health