Cigna Corp. (CI) this morning disclosed plans to expand its private health insurance products on government exchanges under the Affordable Care Act next year to three more states as the company successfully manages costs in the first year on the marketplaces.
During Cigna’s second-quarter earnings call, Cigna president and chief executive officer David Cordani said the company will enter “40 to 50 additional counties” in three new states. Cigna currently sells health plans on public exchanges in Arizona, Florida, Colorado, Tennessee and Texas focused on a “dozen markets” in these areas and will expand its health plan offerings in 2015 to public exchanges in Maryland, Missouri and Georgia.
Cigna is the latest health insurer to announce expansion plans under the health law. Already, UnitedHealth Group (UNH) and Aetna (AET) have been among the insurers in recent weeks to disclose additional markets they will participate in 2015, the second year eligible uninsured Americans can obtain subsidized private coverage under the law.
Date: July 31, 2014