Cigna plans to grow its business of selling individual coverage under the Affordable Care Act for … [+]
Cigna plans to grow its business of selling individual coverage under the Affordable Care Act for 2024 to 15 new counties in North Carolina, but will leave Missouri and Kansas, slightly reducing its Obamacare footprint.
Cigna, which has been a long-standing provider of individual coverage under the ACA also known as Obamacare, has more than doubled such enrollment to 821,000 compared to 337,000 at the end of 2022.
Cigna will offer Obamacare next year in 350 counties across 14 states compared to 16 states and 363 counties this year. That will leave Cigna in Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Virginia for 2024.
“We take a thoughtful and deliberate approach to our geographic presence to ensure our plans meet high standards for affordability, network quality and comprehensive coverage,” said Chris DeRosa, president, U.S. Government business, Cigna Healthcare. “Cigna has continuously maintained our presence in the ACA Marketplace over the past ten years, and we are proud to continue using our expertise to help customers have a healthier future.”
To be sure, Cigna’s Obamacare business has grown over the years and took off in the last year thanks in part to the products the insurer offers as well as support from Congress and the Biden White House to expand federal subsidies to allow more Americans to buy individual coverage.
The Biden administration said earlier this year that a record of more than 16 million Americans signed up for 2023 healthcare coverage that began Jan. 1, 2023 via the more than 30 states that use the federal HealthCare.gov marketplace and 18 state-based marketplaces.
Cigna’s announcement that it will remain in 350 counties comes ahead of the annual open enrollment period that allows people to pick their benefits for the following year. Open enrollment via healthcare.gov begins November 1 and runs through December 15 for coverage that starts January 1, 2024.
Cigna’s benefits for individuals who buy Obamacare include around-the-clock virtual care and various preventative health benefits at zero cost out of pocket, executives said. “Health and well-being are key to a person’s overall vitality, which is why we provide comprehensive medical, behavioral, and pharmacy benefits and a host of other features that make it simple for customers to access affordable care when and where they need it,” DeRosa said.