Tag Archives: Cigna

Cigna Sets Aside $77 Million In Long-Term-Disability Settlement With Regulators In Five States

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Cigna Corp. set aside $77 million to cover potential claim payments as part of a settlement with insurance regulators in five states over the company’s practices in handling long-term disability claims, the Connecticut Insurance Department said Wednesday.

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Cigna CEO’s Compensation Last Year: $3.9 Million, Not Including $9 Million In Stock, Stock Options

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Cigna Corp. CEO David M. Cordani had a 68 percent decline in pay last year with compensation totaling $3.97 million, not including $9 million in stock and stock options which have value in the future when the stocks vest and options are exercised, according to a filing Friday with the U.S. Securities and Exchange Commission. 

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Health Incentives Plans Pay Off

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Tina Nanos’ life was bogged down by her weight for years.

“I thought about it. I was overweight for a very large portion of my life,” said Nanos, who lives in Wallingford with her husband and two children, 13 and 5.

But when her weight “skyrocketed” after having her second son, so much so that sitting in an airplane seat and even walking were uncomfortable, she still didn’t change.

Then her employer and health insurer, UnitedHealthcare, offered her a cash incentive. She shed 101 pounds in two years and saved $1,200 on her annual premium.

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Cigna Closes On Acquisition Of Medicare Advantage Plans From Humana

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Cigna Corp. announced Wednesday it completed its purchase of Medicare Advantage plans from Arcadian and Humana in Arkansas, Oklahoma and Texas.

Starting Jan. 1, about 4,500 Medicare Advantage customers who had Humana or Arcadian now have Cigna coverage, which includes HealthSpring. The acquisition includes 35 new counties in and around Amarillo, Texas; Longview-Marshall, Texas; Texarkana, Texas; and Fort Smith, Ark.

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Cigna Marks 1 Million Policies In China Joint Venture Started Nine Years Ago

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Cigna Corp. and its partner in China announced Monday that the joint venture has one million policies in China.

Cigna and CMC Life Insurance Co. Ltd., an affiliate of China Merchants Group, started their joint venture in 2003. Cigna brings insurance experience to the deal. CMC brings retail experience and brand recognition as well as an understanding of customers in China.

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Cigna Executive: Health Care Reform Tax On Insurers Will Mean Higher Prices For Customers

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A Cigna Corp. executive said Thursday that taxes on the health insurance industry related to the Affordable Care Act, or federal health care reform, will be pushed onto customers in the form of higher premiums.

Cigna’s Chief Financial Officer Ralph J. Nicoletti responded to a question about the taxes during a conference call with financial analysts Thursday morning when the Bloomfield-based health insurer reported third-quarter earnings.

“If you look at the tax, just our philosophy on pricing is essentially to price underlying cost trends, which we’ve viewed as part of. So, beginning in 2013 with — for policies that overlap into 2014, we will include and reflect the industry tax in that pricing,” Nicoletti said.

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