Cigna Sells Its Medicare Unit To Health Care Service Corp. For $3.7-B

Cigna Group announced the sale of its Medicare business to Health Care Service Corp. for approximately $3.7 billion, as reported by the Associated Press (AP).

The deal encompasses Cigna's Medicare Advantage insurance, supplemental benefits business, and Medicare prescription drug coverage. I Photo: The Cigna Group

The deal encompasses Cigna's Medicare Advantage insurance, supplemental benefits business, and Medicare prescription drug coverage.

Cigna CEO David Cordani explained that while Medicare remains an attractive market, the business requires focus and resources disproportionate to its size within the company's portfolio.

Cigna's Medicare business serves 3.6 million customers, including individuals with Part D prescription drug coverage, Medicare Advantage, and Medicare Supplement plans. Health Care Service Corp., a nonprofit Blue Cross-Blue Shield insurer based in Chicago, operates in several states, including Illinois, Texas, and New Mexico.

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