Read previewHealth insurance giant Cigna is exiting the lucrative senior business that's been a boon to insurers' bottom lines for years.
It's a sign that the glory days of Medicare Advantage might be coming to an end.
Cigna's senior business isn't the biggest, but it's also nothing to sneeze at.
In January, Humana, the second-largest Medicare Advantage insurer with 6 million members, slashed its profit projections because of these costs.
AdvertisementIn late 2023, rumors swirled that Cigna was looking to sell its Medicare Advantage plans so it could pull off a merger with Humana—the second-largest Medicare Advantage insurer.
Persons:
—, that's, Cigna, it's, It's, David Cordani, Cordani, Gary Taylor, Cowen, Taylor, Dean Ungar, Humana, Ungar
Organizations:
Service, Health Care Service Corp, Medicare, Business, Kaiser Family Foundation, Competition, Humana, Moody's Investors Service
Locations:
Illinois