Cigna's Medicare Advantage sale on track to close in Q1

The sale of Cigna's Medicare Advantage business to Health Care Service Corp. has been approved by all federal regulators, according to The Cigna Group CFO Brian Evanko. 

Mr. Evanko, who is also CEO of Cigna Healthcare, told investors on a Jan. 30 call the deal still needs to be approved by one more state regulator. 

Cigna announced plans to divest its Medicare Advantage business to Health Care Service Corp., which operates Blue Cross Blue Shield affiliates in Texas, Illinois, Oklahoma, Montana and New Mexico, in January 2024. HCSC agreed to pay $3.3 billion for the business. 

Cigna had 589,000 Medicare Advantage members at the end of 2024, according to its fourth-quarter earnings report. The company did see some growth in Medicare Advantage for 2025, especially in HMO plans, Mr. Evanko said. 

"The business is on solid footing. We're tracking for attractive growth in 2025 and we're ready to hand it off to HCSC," Mr. Evanko said. 

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