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The Cigna Group - CI STOCK NEWS

Welcome to our dedicated page for The Cigna Group news (Ticker: CI), a resource for investors and traders seeking the latest updates and insights on The Cigna Group stock.

The Cigna Group (NYSE: CI) is a global health services company dedicated to improving health outcomes and providing comprehensive healthcare solutions. The company operates primarily through two platforms: Evernorth Health Services and Cigna Healthcare. Cigna offers a diverse portfolio of pharmacy, medical, behavioral, dental, and supplemental products and services.

Pharmacy Benefit Management (PBM) and Health Insurance: Cigna's PBM services experienced significant growth following its 2018 merger with Express Scripts. The company's PBM and specialty pharmacy services are primarily sold to health insurance plans and employers, with notable contracts including the Department of Defense and insurer Centene. Cigna serves 18 million U.S. medical members as of December 2023, focusing on self-funded employer arrangements.

Recent Achievements: In 2024, Cigna repurchased $3.2 billion of common stock through accelerated stock repurchase agreements, reflecting strong business growth and commitment to shareholder value. The company is also addressing chronic conditions by introducing innovative solutions like EncircleRx, which offers financial guarantees for managing the cost of GLP-1s.

Partnerships and Community Engagement: Cigna partners with various organizations to enhance community health. This includes sponsoring the NFL's Vincent Country Safe Zone Activity Day, providing essential health screenings and eye exams for students, and participating in behavioral health initiatives through Evernorth Behavioral Care Group.

Financial Performance: Cigna reported strong first-quarter 2024 results, with adjusted income from operations of $1.9 billion, reflecting growth across its Evernorth and Cigna Healthcare businesses. The company also announced pricing terms for tender offers to manage its senior notes, aiming for significant savings for both patients and health plans through biosimilar initiatives.

Future Outlook: As of 2024, Cigna aims to achieve an adjusted EPS growth target of 10%-14% and has reaffirmed its 2024 adjusted EPS guidance of at least $28.25. The company continues to innovate and expand its healthcare offerings, focusing on affordability, access, and improved clinical outcomes.

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Cigna is expanding its Medicare Advantage offerings in western Pennsylvania, introducing $0 premium plans across 11 counties, effective January 1, 2023. This expansion is part of the Annual Election Period, which runs from October 15 to December 7, allowing eligible individuals to choose from various plans tailored to different health needs and budgets. Notable benefits include hearing, vision, and dental coverage, and a valuable meal delivery service post-hospital discharge. This marks Cigna’s first major entry into this region.

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Cigna (NYSE: CI) is expanding its health plan offerings for Indiana residents, providing affordable coverage options in eight counties starting from the 2023 Open Enrollment Period, which begins on Nov. 1, 2022. The plans include features such as $0 deductibles, virtual primary care through MDLIVE, and cost-effective prescription drug options. Cigna will also host a health improvement event at the Indianapolis Zoo on Nov. 12, offering free biometric screenings and health coaching. The initiative aims to enhance access to healthcare in Indiana, promoting community health and wellness.

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Cigna is expanding its Medicare Advantage (MA) offerings to southwest Ohio and northern Kentucky, introducing plans with $0 premiums and enhanced benefits. This expansion, available to Medicare-eligible customers during the Annual Election Period from Oct. 15 to Dec. 7, will take effect on Jan. 1, 2023. New counties included are Brown, Clermont, and others in Ohio, as well as several in Kentucky. Plans feature services such as dental, vision, fitness benefits, and transportation, catering to diverse needs and budgets.

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Cigna is expanding its Medicare Advantage presence in the Cleveland area, launching several new plans for Medicare-eligible customers during the Annual Election Period from Oct. 15 to Dec. 7. Plans feature $0 premiums and benefits like dental, vision, and financial wellness incentives. New offerings include various Medicare Advantage plans available in Mahoning, Portage, Stark, and Trumbull counties, effective Jan. 1, 2023. Cigna aims to enhance access to affordable healthcare, catering to diverse lifestyles and budgets, including options for individuals eligible for both Medicare and Medicaid.

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The Board of Directors of Cigna Corporation has declared a cash dividend of $1.12 per share, payable on December 21, 2022. Shareholders of record as of the close of business on December 6, 2022 will be eligible. This decision reflects Cigna's commitment to returning value to its shareholders while ensuring continued investment in health services. Cigna operates globally, delivering health solutions to over 190 million customers, fundamentally aiming to enhance their health and well-being.

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Cigna is launching Medicare Advantage plans for the first time in New York, including New York City's five boroughs. These plans, available during the Annual Election Period from Oct. 15 to Dec. 7, will take effect on Jan. 1, 2023. Notably, they include $0 premium options and added benefits like dental allowances, caregiver support, and fitness benefits. The plans will be offered in 10 counties, including Bronx and Queens, providing members with flexibility through PPO plans. Cigna aims to enhance healthcare access and services for Medicare-eligible customers.

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Cigna is expanding its Medicare Advantage plans in the Miami area, introducing options in Broward and Palm Beach counties for the first time. The plans, featuring $0 premiums, will be available to Medicare-eligible customers starting January 1, 2023, during the Annual Election Period from October 15 to December 7, 2022. Key benefits include $0 copays for primary care visits, dental allowances, and meal delivery after hospital discharge. Cigna aims to offer more affordable healthcare choices to Floridians, emphasizing its trusted provider networks.

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Cigna Corporation introduced the Evernorth Vitality Index, a new tool designed to measure health and vitality for personal, business, and community impact. The index derives insights from a study involving over 10,000 American adults, revealing that less than 20% of Americans maintain high vitality levels, with Generation Z showing the lowest levels. Cigna also announced a $1 million partnership with YMCA of the USA to enhance community vitality through programming in five cities. The initiative aims to improve health, workforce retention, and productivity in a post-pandemic recovery.

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Express Scripts, part of Cigna's Evernorth, has partnered with Centene to manage pharmacy benefits for around 20 million members beginning January 2024. This strategic collaboration aims to enhance access and affordability of prescription medications and will utilize Express Scripts' extensive pharmacy network. The partnership follows a competitive bidding process and is expected to drive better health outcomes through improved detection and care.

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Cigna (NYSE: CI) is set to offer individual health plan options in four South Carolina counties during the 2023 Open Enrollment Period, starting Nov. 1. The plans will feature virtual primary care via MDLIVE, $0 deductible options, and affordable prescription drugs, including copays as low as $0 to $25 for preferred generics. Residents in Berkeley, Charleston, Dorchester, and Horry counties will benefit from comprehensive healthcare coverage, digital tools, and incentives for healthy behaviors. The enrollment period runs until Jan. 15, 2023, with plans effective starting Jan. 1, 2023.

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FAQ

What is the current stock price of The Cigna Group (CI)?

The current stock price of The Cigna Group (CI) is $281.63 as of December 23, 2024.

What is the market cap of The Cigna Group (CI)?

The market cap of The Cigna Group (CI) is approximately 76.8B.

What services does The Cigna Group offer?

The Cigna Group offers pharmacy, medical, behavioral, dental, and supplemental products and services through its Evernorth Health Services and Cigna Healthcare platforms.

What is Cigna's primary business focus?

Cigna primarily focuses on pharmacy benefit management and health insurance services, catering to health insurance plans and employers.

What are some recent achievements of The Cigna Group?

Recent achievements include a $3.2 billion stock repurchase, the launch of EncircleRx for managing GLP-1s costs, and strong financial results in the first quarter of 2024.

Who are Cigna's key partners?

Cigna partners with organizations like the NFL's Vincent Country, Centene, and provides services for the Department of Defense.

What are Cigna's future plans?

Cigna aims for an adjusted EPS growth target of 10%-14% and continues to innovate in healthcare, focusing on affordability, access, and improved clinical outcomes.

How does Cigna support community health?

Cigna supports community health through events like Vincent Country Safe Zone Activity Day, offering health screenings, eye exams, and other health services.

What is Cigna's role in pharmacy benefit management?

Cigna's PBM services, expanded through its merger with Express Scripts, are sold to health insurance plans and employers, including the Department of Defense and Centene.

What financial initiatives has Cigna undertaken recently?

Cigna has repurchased $3.2 billion of common stock through accelerated stock repurchase agreements and announced pricing terms for tender offers to manage senior notes.

What are some of Cigna's innovative healthcare solutions?

Innovative solutions include EncircleRx for managing GLP-1s costs and Evernorth Behavioral Care Group for expanding access to quality behavioral health therapy.

How many medical members does Cigna cover in the U.S.?

As of December 2023, Cigna covers 18 million medical members in the U.S.

The Cigna Group

NYSE:CI

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76.83B
273.71M
1.59%
89.64%
1.29%
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