The Cigna Group reported $1.3 billion in profit in the first quarter of 2023 and named new executives and board members.
Here are eight updates about the Bloomfield, Conn.-based payer Becker's has reported since April 27.
- Cigna Healthcare and Chesapeake (Va.) Regional Medical Center will be out of network June 1 for those with employer-sponsored health coverage.
- State insurance commissioners and federal lawmakers are raising concerns with Cigna's internal claims review process following reporting from ProPublica in March that said the payer denies large batches of claims without reviewing them first.
- Cigna named Brent Hunter as general manager for its group employer business in mid-America.
- Baton Rouge (La.) General reached an agreement on a new contract with Cigna ahead of a looming deadline. The system remains out of network with Aetna.
- Employers are hesitant to cover the cost of GLP-1 drugs for their employees, the Cigna Group CEO David Cordani told investors.
- The Cigna Group beat investor expectations and reported a 10 percent growth in membership year over year. In the first quarter, net income was $1.3 billion, up 6 percent year over year.
- Cigna appointed New York City-based Montefiore Medicine's president and CEO to its board of directors. Philip Ozuah, MD, PhD, will begin his term June 1.
- The American Medical Association and more than 100 physician and healthcare organizations asked Cigna to reconsider its modifier 25 policy they say will add administrative costs and burdens and potentially negatively affect patients. The company delayed implementation of the policy on May 22.