# Who are CVS Health's customers? Who does CVS Health earn revenue from?
Canonical: https://valuechain.wiki/cvs-health · Facet: customers · Updated: 2026-09-11T19:25:09.688589+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: CVS Health's confirmed revenue counterparties include Elevance Health, Inc. plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 3 revenue edges, backed by 4 dated sources, 2 of them primary filings (as of 2026-09-11).

### 미국 메디케어·메디케이드 서비스센터(CMS) (high)
- metric: Count 4,267,000 members · 2025-12-31 · CVS Health Medicare Advantage medical membership
- note: CVS Health contracts annually with CMS to offer Medicare Advantage HMO and PPO products. Medicare Advantage medical membership was 4.267 million at year-end 2025.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-10) https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/cvs-20251231.htm: "Through annual contracts with the U.S. Centers for Medicare & Medicaid Services (CMS)"
- [confirms] KFF (EN, analysis, published 2025-07-16) https://www.kff.org/medicare/key-facts-about-medicare-part-d-enrollment-premiums-and-cost-sharing-in-2025/: "CVS, Humana, and Centene each have around 15% of the Part D market"

### 엘레반스 헬스 (high)  → /elevance-health.md
- note: CVS Health, through its subsidiary CaremarkPCS Health, performs certain core pharmacy benefit functions for CarelonRx, including claims and network services, under a current term that runs through December 2027, with payments not disclosed.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-06) https://www.sec.gov/Archives/edgar/data/1156039/000115603926000013/elv-20251231.htm: "CarelonRx delegates certain core pharmacy services to CaremarkPCS Health, L.L.C."

### 캘리포니아 공무원연금(CalPERS) (mid)
- metric: Count 587,000 members · 2026-2030 · Members covered by the CalPERS pharmacy benefit contract with CVS Caremark
- note: CalPERS selected CVS Caremark to manage pharmacy benefits for five years beginning in 2026. The contract covers approximately 587,000 members.
- [confirms] Healthcare Dive (EN, news, published 2025-07-16) https://www.healthcaredive.com/news/cvs-caremark-calpers-pharmacy-benefits-contract-unitedhealth/753124/: "the five-year contract ... covers outpatient prescription drug benefits for roughly 587,000 members"

Reverse side: https://valuechain.wiki/cvs-health/suppliers.md · Ripple: https://valuechain.wiki/cvs-health/ripple.md

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Full node: https://valuechain.wiki/cvs-health.md · JSON: https://valuechain.wiki/cvs-health.json