The Cigna Group reports company news across its global health business, including Cigna Healthcare, Evernorth Health Services, pharmacy benefit services, specialty pharmacy, specialty distribution and care services. Updates commonly cover quarterly results, financial outlook, pharmacy and health-benefit operations, prior authorization initiatives, credit ratings, dividends and investor conference activity.
Company announcements also address governance and board matters, leadership succession planning, enterprise risk management, foundation and community health programs, and changes tied to its health services portfolio. Its business model combines health insurance and benefits with pharmacy claims administration, formulary management, retail pharmacy network administration, home delivery pharmacy and clinical programs for clients and customers.
Cigna (NYSE: CI) announces a substantial expansion of its ACA Marketplace exchange plans for 2023, increasing access to affordable healthcare in Texas, Indiana, and South Carolina, along with 50 additional counties in Georgia, Mississippi, and North Carolina. This move is poised to serve approximately 730,000 more customers across 363 counties in 16 states. Key features include $0 virtual primary care via MDLIVE, cost-effective prescription options, and incentives for healthy behaviors, aimed at enhancing customer experience and access to quality care.
Cigna Corporation (NYSE: CI) announced that its CEO, David Cordani, will present at the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, in New York, NY. The presentation is scheduled for approximately 9:10 a.m. ET, with a live webcast available on Cigna's investor relations website. Cigna operates in over 30 countries and serves over 190 million customers worldwide, providing integrated health services like medical, dental, and pharmacy benefits.
Cigna Corporation and Oscar Health, Inc. are launching a new health insurance offering for small businesses in the Philadelphia area, effective January 1, 2023, pending regulatory approval. This initiative aims to provide affordable, member-first health insurance products and includes services like low-cost prescription coverage and access to Cigna's extensive network of healthcare providers. The partnership has already surpassed 50,000 members in its first half of operations, with promises of innovative health plans designed for small businesses.
Cigna Corporation (NYSE: CI) reported robust second quarter 2022 results, achieving total revenues of $45.5 billion and a net income of $1.6 billion, or $4.90 per share. The adjusted income from operations increased to $2.0 billion, or $6.22 per share. Key highlights include a 3% growth in total customer relationships and a projected full-year adjusted revenue of at least $178 billion. The medical care ratio improved to 80.7%. Cigna's ongoing focus on innovation and customer service drives sustained growth across segments.
Cigna has announced that it will offer free transportation to community cooling centers for its Medicare Advantage customers during the summer. This service is aimed at assisting older adults who are more vulnerable to heat-related illnesses. Cigna's initiative is critical, as over 650 Americans die annually from such conditions, primarily those aged 65 and older. Customers can utilize their transportation benefits for rides to cooling locations, libraries, or senior centers. The company emphasizes the need for community support during heat emergencies, encouraging families to check on elderly loved ones.
The Board of Directors of Cigna declared a cash dividend of $1.12 per share for the third quarter of 2022. This dividend is payable on September 22, 2022, to shareholders on record by the close of business on September 7, 2022. This decision reflects Cigna's commitment to delivering value to its shareholders while maintaining financial strength.
Cigna Corporation (NYSE:CI) will announce its second quarter 2022 financial results on August 4, 2022, at 6:30 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss the results. Participants are encouraged to join by 8:15 a.m. ET. The call can be accessed via phone or through a live internet webcast. Replay options will be available post-call. Cigna, a global health services company, operates in over 30 countries with more than 190 million customer relationships worldwide.
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Cigna Corporation (NYSE: CI) has completed a $5.4 billion divestiture of its life, accident, and supplemental benefits businesses across six Asia-Pacific markets to Chubb (NYSE: CB). This strategic shift allows Cigna to refocus on its global health portfolio, while expecting approximately $5.1 billion in net after-tax proceeds. The funds will primarily support a share repurchase program, reinforcing Cigna's commitment to enhancing shareholder value. This transaction does not affect Cigna's health operations in North America and other regions.
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