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Cigna to exit national Medicare Advantage private FFS market in 2011
Cigna Corp. has chosen not to renew its national Medicare Advantage private fee-for-service (PFFS) contract for 2011. Analysts have expected some Medicare Advantage companies to leave the market due to changes that CMS is making regarding provider networks.
CIGNA's decision will impact approximately 92,000 members in 27 states, spokeswoman Lindsay Shearer tells FierceHealthPayer. The goal is "to allow CIGNA to provide greater focus on those core government businesses that provide the most value for customers--that can be delivered on a sustainable basis, in alignment with our strategy to improve the health, well-being and a sense of security of customers through our industry-leading service and clinical programs," she says.
CIGNA will continue to offer its Medicare Part D pharmacy plan and the Arizona Medicare Advantage HMO plans. "The Medicare Advantage HMO in Arizona has been a market leader for over 15 years. Our Part D plan has over half a million members. Both plans have demonstrated an ability to deliver sustained value to our customers," says Shearer. "In addition CIGNA offers a comprehensive suite of group-sponsored retiree solutions including early retiree products, Medicare Part D pharmacy benefits, CIGNA Medicare Advantage Alliance products with Humana, Medicare Supplemental benefits and Medicare Advantage HMO group plans in Arizona."
To learn more:
- read this press release
Hospitals to see more contract pressures from commercial insurers
Record insurance profits stemmed from dropped coverage, raised rates
I thought that anyone that liked and wanted to keep their plan could keep it? Isn't that what the President said? Hmmmmmmmmm,what he didn't say was that Obamacare would drive companies and doctors that offer services to cease offering them.
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