Forbes January 30, 2025
The Cigna Group Thursday reported more than $3.4 billion in 2024 net income including $1.4 billion in the fourth quarter as the health insurer worked to overcome rising medical expenses in its employer plans.
Cigna, which sells health insurance and operates one of the nation’s largest pharmacy benefit management (PBM) companies, has been struggling like other health insurers to control costs amid an influx of patients seeking medical treatment.
Health insurers are seeing an uptick in claims submitted by patients that executives have said is driven in part by a pent up demand for medical care put off during the Covid-19 pandemic. In Cigna’s case, the company Thursday said its results “were impacted by higher stop loss medical costs.”
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