CIGNA: Will Shed Medicare Products in Six Markets
Cigna Corp. plans to pull out of the Medicare business in six markets next year, the latest in a string of insurers folding their Medicare HMOs following reimbursement cuts and regulations that have made the field less attractive, Bloomberg/Philadelphia Inquirer reports. The Philadelphia-based company said 10,000 Medicare recipients will be looking for new providers after the company withdraws from Philadelphia; Ohio; Kansas City, MO; San Diego; five South Jersey counties and Little Rock, AR. Cigna currently has 190,000 Medicare HMO members in 24 markets, and has "not generated any substantial losses in any" of the markets it will leave, said spokesperson Howard Drescher (5/13).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.