“Clients are looking at — how do you balance expanding access, but in a more sustainable way?” Mr. Cordani said at an investor conference on Sept. 5.
In March, Cigna launched EncircleRx, a program to help employers manage the costs of the drugs. The program grew to more than 2 million enrollees in its first six months.
Mr. Cordani said that around 50% of the large employers served by Evernorth, Cigna’s health services business, cover GLP-1 drugs for weight loss.
A smaller percentage of Cigna Healthcare’s clients, the company’s insurance benefits business, have opted to cover the cost of the drugs for their employees, Mr. Cordani said. Cigna Healthcare works with employers of all sizes.
“This topic is front of mind for everybody, not just investors,” he said. “On one hand, it presents an example of pharmacological innovation that brings new services, new programs. On the other hand, it hits an affordability challenge.”
GLP-1 medications approved for weight loss include Wegovy, Saxenda and Zepbound. These drugs can cost upward of $1,000 a month.
Mr. Cordani said coverage for the drugs is ticking upwards at a slow pace, growing in single-digit percentages.
Some employers have opted to cover the drugs for weight loss, before reversing course based on affordability concerns.
“As we’re monitoring, we’re seeing a little choppiness in the space. One large state — not our client — had it fully accessed and dropped it based on affordability,” Mr. Cordani said.
