The Cigna Group Affirms Commitment to Medicare Advantage Customers; Resolves Allegations Related to Industry Risk Adjustment Practices

Rhea-AI Summary

The Cigna Group resolves legal matters related to Medicare Advantage risk adjustment practices, paying approximately $172 million. The resolution allows the company to focus on delivering value to customers and taxpayers. Cigna Healthcare's Medicare business has recently completed a successful program audit, demonstrating strong results. The company will enter into a Corporate Integrity Agreement with the Office of Inspector General. The focus remains on improving health and vitality.

Positive

• The Cigna Group resolves legal matters, allowing focus on delivering value to customers and taxpayers.
• Cigna Healthcare's Medicare business completes successful program audit with strong results.

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• None.

BLOOMFIELD, Conn., Sept. 29, 2023 /PRNewswire/ -- Global health company The Cigna Group (NYSE: CI) announced it has fully resolved pending legal matters related to certain past Medicare Advantage risk adjustment practices. Under agreements with the federal government, The Cigna Group will pay approximately $172 million and move beyond industry-wide legal disputes to maximize the company's focus on delivering value to customers and taxpayers.

"These agreements fully resolve long-running legal matters, enabling us to focus our resources on all those we serve and avoiding the uncertainty and further expense of protracted litigation," said Chris DeRosa, president of Cigna Healthcare's U.S. government business. "We are pleased to move beyond industry-wide legal disputes related to past risk adjustment practices, and we look forward to continuing to provide high-quality, affordable Medicare Advantage coverage to our customers and delivering value to the taxpayers in the years ahead."

The agreements resolve a False Claims Act lawsuit and an investigation related to past risk adjustment submissions from certain types of patient records, some dating back more than a decade. Since that time, Cigna Healthcare's Medicare business has continued to innovate, evolve and expand, and has recently completed a successful program audit conducted by the Centers for Medicare & Medicaid Services (CMS), with strong results.

As part of the resolution, The Cigna Group will also enter into a Corporate Integrity Agreement (CIA) with the Office of Inspector General of the U.S. Department of Health and Human Services. The CIA is designed to promote ongoing compliance with federal health program requirements over a period of 5 years.

"We hold ourselves to high standards for serving Medicare beneficiaries and all of our customers, and are constantly evaluating and evolving our processes accordingly," continued DeRosa. "This resolution provides us another important tool to gain insights and further improve our support for beneficiaries and we look forward to continuing our collaborative and constructive relationship with the government. Above all, our focus remains on improving the health and vitality of all those we serve."

About The Cigna Group

The Cigna Group (NYSE:CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products and services marketed under Cigna Healthcare, Evernorth Health Services or its subsidiaries. The Cigna Group maintains sales capabilities in more than 30 countries and jurisdictions, and has approximately 165 million customer relationships around the world. Learn more at thecignagroup.com.

MEDIA CONTACT:
Justine Sessions
860-810-6523
Justine.Sessions@cigna.com

INVESTOR RELATIONS CONTACT:
Ralph Giacobbe
860-787-7968
Ralph.Giacobbe@TheCignaGroup.com

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SOURCE The Cigna Group