CVS Health plans to exit the individual Obamacare health insurance business next year, leaving 1 million people in 17 states looking for new coverage in 2026.

Creagh Milford is taking the reins at the value-based medical group for seniors after Oak Street’s previous president decided to step down to spend more time with his family.

When CVS Health Corp. acquired Aetna Inc. in 2018, the pharmacy giant agreed to keep the health insurer’s headquarters in Hartford for at least a decade and create a center of excellence around its new insurance business.

CVS made plans to expand Oak Street to 300 clinics by 2026, but has been largely silent on its progress toward that goal. Oak Street operated about 230 clinics at the end of 2024. CVS executives ...