Cigna paying $3.8B for rival HealthSpring
Cigna is the fourth-largest commercial health insurer based on enrollment, trailing WellPoint Inc., UnitedHealth Group Inc. and Aetna Inc. It operates health care, group disability and life segments in the U.S. The insurer also has a growing international segment that sells individual insurance in several countries and operates an expatriate business that covers people living outside their home countries.
Source: publicus.com
Video: United Healthcare Oxford Medicare Advantage Denies Coverage
Cigna: A Lot Riding On Managed Medicare
Higher debt levels of 60% of equity — the worst amongst its peers in our table above, has crimped profits and hurt its chances for further acquisitions. This industry, which is characterized by cut throat competition and little product differentiation, needs further consolidation and Cigna’s comparatively lower cash hoard makes acquisition led growth difficult in the future.
Source: seekingalpha.com
Guide to Medicare – CIGNA Plans: Review of CIGNA Medicare, CIGNA Part D, and HMO CIGNA
Currently, this HMO Cigna plan is only available for Arizona residents. In addition, beneficiaries must be eligible for Original Medicare, and must apply in the open enrollment period between November 15 and December 31. (However, individuals may apply for special enrollment outside of this time frame and still be eligible for CIGNA plans.)
Source: suite101.com
Cigna Offers Medicare Advantage Plans For The Elderly
Cigna Medicare RX Basic would go side by side with most parts of Medicare and it is obtainable in every single state of the nation. The plan has a selection of helpful advantages. For example, it doesn’t include a deductable, which will keep you from having to spend with your own money. Additionally, it will continue to pay for prescription medications even through the Medicare donut hole, which will cut off the majority of healthcare coverage. Generally, generic medication through this plan would cost nothing out of pocket. Cigna Medicare Select Plus Rx is only included in the state of Arizona and it will work only with Medicare HMP plans. With this option, you will actually get some healthcare together with prescription medications. The plan doesn’t have any monthly expense and it has no deductibles to reach. Prescriptions are available at a discount and the plan would even help to pay on physician’s visits.
Source: org.uk
Cigna Makes $3.8 Billion Deal To Buy Medicare Carrier
Reuters: Cigna To buy Medicare Co HealthSpring For $3.8 Billion Health insurer Cigna Corp will buy HealthSpring Inc for $3.8 billion to jump-start its business selling Medicare plans as more elderly Americans become eligible for the U.S. government program. Medicare is an enticing market for U.S. health insurers, even as Congress weighs cuts to the program to rein in the country’s debt. In particular, the entry of the postwar baby boom generation into retirement is expected to swell the ranks of privately run Medicare Advantage plans, which now account for 25 percent of Medicare enrollment, compared with 75 percent for government-run plans (Krauskopf, 10/24). Market Watch: Cigna To Buy HealthSpring For $3.8 Billion Health-insurance giant Cigna Corp. said Monday it will pay $3.8 billion in cash to acquire the shares of HealthSpring Inc. The price, $55 a share, that Cigna is paying represents a 37% premium over Friday’s closing stock price for HealthSpring. The news catapulted HealthSpring shares by more than 33%, while Cigna was up about 1.5%. The companies said in a press release that HealthSpring Chairman and Chief Executive Herb Fritch will stay with the united companies, as Cigna will expand into senior and Medicare businesses (Britt, 10/24). Modern Healthcare: Cigna To Buy HealthSpring In $3.8 Billion Deal Cigna Corp. said it reached at definitive agreement to buy Medicare Advantage provider HealthSpring for $3.8 billion. Cigna said it would pay $55 per share in an all-cash deal for the Nashville-based HealthSpring, a publicly traded company. The deal, which is subject to regulatory approval, is expected to close in the first six months of 2012, according to an announcement by Cigna. Herb Fritch, chairman and CEO of HealthSpring will oversee a push by Cigna into senior and Medicare service lines, the announcement said (Evans, 10/24).
Source: kaiserhealthnews.org
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- Guide to Medicare – CIGNA Plans: Review of CIGNA Medicare, CIGNA Part D, and HMO CIGNA
- Guide to Medicare – CIGNA Plans: Review of CIGNA Medicare, CIGNA Part D, and HMO CIGNA
- HealthSpring Shareholders Approve Merger
