Becker's Healthcare February 2, 2024
Cigna is selling its Medicare plans, but Evernorth, its health services arm, is still in the business.
On a Feb. 2 call with investors, Cigna Group CEO David Cordani said Medicare is still an attractive business, but Cigna’s Medicare offerings were taking up a disproportionate share of the company’s resources relative to its size.
Cigna announced a deal to sell its Medicare Advantage, Medicare Supplement and Part D plans to Health Care Service Corp. for $3.3 billion on Jan. 31. As part of the deal, Evernorth will continue providing health services to customers being transferred to HCSC.
“We are really pleased with the nature of the transaction we’re able to structure with HCSC. We see it as...
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