Cigna, which now owns pharmacy benefits manager Express Scripts, saw its net income fall in the fourth quarter of fiscal year 2018, according to recent financial documents.
Five things to know:
1. Cigna posted net income of $144 million in the fourth quarter of this year, down 46 percent from $266 million in the same period a year prior.
2. The health insurer's quarterly profit was better than expected; however, Cigna's revenue and earnings forecast was below Wall Street estimates for its first full year running Express Scripts, according to Reuters. The health insurer expects 2019 adjusted revenue between $131.5 billion and $133.5 billion.
3. In addition, Cigna's shares fell 5 percent Feb. 1 after HHS proposed to end rebates to pharmacy benefit managers.
4. Cigna's medical care ratio, or the amount it spends on medical claims in relation to premium income, was 80.9 percent in the fourth quarter.
5. The health insurer's total membership climbed 3.6 percent in the fourth quarter of this year to nearly 17 million when compared to the same period a year prior, according to Reuters.