Skilled Nursing News January 31, 2024
As Medicare Advantage becomes an increasingly important – and controversial – payer for skilled nursing services, operators should note a major shift has occurred in the insurance landscape. Cigna Group (NYSE: CI) agreed Wednesday to sell its Medicare businesses and CareAllies to Health Care Service Corporation (HCSC).
HCSC said it intends to acquire the Cigna assets, which include its Medicare Advantage (MA), Medicare Supplemental Benefits and Medicare Part D, for $3.3 billion. The deal is expected to close in early 2025.
HCSC aims to enhance its capabilities and reach through the growth of its Medicare segment. In 2023, Cigna made up 2% of MA enrollment, or less than one million beneficiaries, according to enrollment data published by KFF in August.
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