The Cigna Group has closed the sale of its Medicare Health Benefits companies and a medical care … More
The Cigna Group is closed The sale of its Medicare Health Benefits companies and a services from medical care provider for $ 3.3 billion in Health Care Service Corp., the parent of Five Blue Cross and Blue Shield Health Insurance Plans.
According to the conditions of the deal, announced for the first time last year, Healthcare Cigna’s Medicare Advantage plans, Cignna has additional benefits, Medicare Part D medicines benefits and carEllies, a company that helps medical care providers with various administrative services and contracting.
Blue Cross and Blue Shield, based in Chicago, operates health insurance plans in Illinois, Texas, Oklahoma and New Mexico, with more than 26 million people Throughout the country in its various benefits plans, and wants to grow its Medicare Advantage Product offers, which are minimal compared to other large health insurers.
Medicare Advantage plans, which are now the choice of health insurance for more than half of US seniors older than 65, contract with the federal government to offer additional benefits and services to seniors, such as disease management and nurses, with some who also offer vision, dental and welfare programs.
But neither the Medicare disease insurance activities of the Health Care Service are as large as UnitedHealth Group’s UnitedHealthare, CVS Health’s Aetna Health Insurance Business or Humana’s Medicare Plans, all of whom have several million Medicare Advantage -writics.
The decision of Cigna to leave the Medicare company is because some of his rivals have returned to their Medicare Advantage Prints this year.
At the end of last year, Cigna had around 589,000 Medicare Advantage Enrollees, which fell by 2% compared to 2023, According to the latest income report. Cigna also had 2.5 million people who participated in the Medicare Part D medicinal plans.
The acquisition will Health Care Service Corp. Making a player in Medicare Advantage in the markets where it is often the largest supplier of commercial health insurance. Healthcare now serves 26.5 million people, including 4.3 million medicine members, the company said.
“This transaction is fully tailored to our mission to expand access to quality assurance by adding capacities and to deepen our geographical presence in the United States” Maurice Smith. “We acknowledge that health and welfare needs for older Americans are growing, and we intend to play an important role in helping seniors to lead a healthier, more complete life. We are pleased to welcome our new medicine and employees who will continue to help them reach their best health.”
Cigna said that it will “continue to deliver pharmacy advantage services and other solutions to Medicare” via the Evernorth Health Services Business, including the Express scripts of pharmacy management, as part of the deal. “We continue to commit ourselves to operating Medicare population through the portfolio of products and services that we offer through Evernorth Health Services,” said David Cordani, Chief Executive of Cigna Chairman.