On Sunday, CVS announced plans to buy health insurance company Aetna for $69 billion. The proposed mega-merger will reduce healthcare costs for consumers immediately, the CEOs of both companies told CNBC on Monday.
Aetna's current CEO, Mark Bertolini, will remain on the company's board, but he won't be in charge of running the Aetna unit.
Bertolini took over as CEO of Aetna in 2010 and has been a champion for wellness at the company, a passion driven by his own health scares. Bertolini tackled one widespread issue in the business world, sleep deprivation, by creating an incentive program that pays employees to get more sleep.
"If they can prove they get 20 nights of sleep for seven hours or more in a row, we will give them $25 a night, up $500 a year," he said in an interview on CNBC's "Squawk Box" in 2016.
Bertolini believes that sleep is crucial to performing well at work. "Being present in the workplace and making better decisions has a lot to do with our business fundamentals," he told "Squawk Box."