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Thomas Moriarty, executive Vice President and general counsel at CVS Health, and Thomas Sabatino, executive Vice President and general counsel at Aetna. Photo: Drew Angerer via Getty Images

The Department of Justice has given preliminary approval to CVS Health to acquire Aetna after the insurance company agreed to sell its Medicare prescription drug plan business to WellCare Health Plans, CNBC reports.

Why it matters: Per Axios' Bob Herman, CVS will soon absorb a gigantic health insurance business into its pharmacies, pharmacy benefit manager and clinics, inevitably affecting the health care and pocketbooks of millions of Americans.

Go deeper

Updated 18 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: Biden, Harris and nearly all the living former presidents and their spouses lay a wreath at Arlington National Cemetery.

Inaugural address: Biden vows to be "a president for all Americans"

Moments after taking the oath of office, President Biden sought to soothe a nation riven by political divisions and a global pandemic, while warning that "we have far to go" to heal the country and defeat a "virus that silently stalks the the country."

Why it matters: From the same steps that a pro-Trump mob launched an assault on Congress two weeks earlier, the new president paid deference to the endurance of American political institutions.

Updated 3 hours ago - Politics & Policy

In photos: The Biden and Harris inauguration

Joe Biden is sworn in as the 46th president of the United States. Photo: Alex Wong/Getty Images

Joe Biden and Kamala Harris were inaugurated as president and vice president respectively in a ceremony at the U.S. Capitol on Wednesday morning.

Why it matters: Top Democrats and Republicans gathered for the peaceful transfer of power only two weeks after an unprecedented siege on the building by Trump supporters to disrupt certification of Biden's victory. Trump did not attend Wednesday's ceremony.