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Cigna Healthcare Middle East secures Category "A" health insurance license in Oman
Cigna Healthcare Middle East secures Category "A" health insurance license in Oman

Zawya

time5 days ago

  • Business
  • Zawya

Cigna Healthcare Middle East secures Category "A" health insurance license in Oman

Oman – Cigna Healthcare Middle East, a global health service company, has achieved a significant regulatory milestone in Oman, securing a Category 'A' health insurance license from the Financial Services Authority (FSA). The license authorizes Cigna Healthcare to underwrite, manage and issue health insurance under the Sultanate's newly established 'Health Insurance ' framework. As the first international health insurer, and one of only a select few providers in the market, to be granted the coveted Category "A" health insurance license, the distinction places the business among the market's most trusted insurers, recognized by the FSA for meeting stringent regulatory, operational and service excellence standards. It also affirms Cigna Healthcare's strategic role in helping shape a more inclusive, high quality and trusted health insurance landscape in Oman. 'Being granted the Category 'A' license is more than a regulatory milestone – it's a powerful endorsement of our commitment to Oman, and our ability to deliver lasting value in Oman's transforming healthcare landscape,' said Raed Labaki, General Manager of Cigna Healthcare, Middle East (excluding UAE and KSA). ' As Oman accelerated healthcare reform to improve market stability and access to quality care, Cigna is proud to be part of this progress. Backed by global experience and deep local insights, we're ready to support the Sultanate's vision for a more sustainable, trusted and accessible healthcare system that meets the needs of individuals, businesses and the broader economy.' This milestone builds on Cigna Healthcare's deep-rooted presence in Oman, which began in 2017 with the acquisition of Zurich's regional health insurance portfolio. Since then, Cigna Healthcare has established a fully licensed branch in Muscat, built a strong local team, and introduced tailored health plans such as Cigna Choice to meet the specific needs of the Omani market. Through partnerships with trusted local players like MedNet and the rollout of digital tools, Cigna delivers fully compliant, end-to-end health and well-being solutions for multinational, regional, and local employers. Abdullah Amir Al Hatmi, Country Manager of Cigna Healthcare Middle East (Oman Branch) commented: 'We thank the Financial Services Authority for granting us this license. This achievement reinforces our commitment to contribute to a sustainable, trusted, and inclusive health system that meets the evolving needs of individuals, businesses, and the broader economy. We are ready to deliver Cigna's leading health insurance solutions and support national platforms like eDhamani to foster greater integration, transparency, and faster service delivery across insurers, providers and TPAs in the healthcare ecosystem.' As Oman's healthcare landscape evolves – with initiatives like the eDhamani digital health platform and the anticipated implementation of mandatory health coverage – Cigna remains committed to investing in Oman's healthcare future, and contributing to Oman's economic goals. About Cigna Healthcare Cigna Healthcare is a global health service company dedicated to helping people improve their health and vitality. With a heritage of over 250 years, Cigna Healthcare is committed to its promise of being together all the way in providing health care, clinical management, and wellness programs to employers, individuals, and governments around the world. Operating for more than 19 years in the Middle East region, Cigna Healthcare serves the GCC markets and Lebanon through its locally regulated entities. The company delivers both health and wellness services to individuals, employers, and government entities in the region. With a deep-rooted understanding of the African market, a regional presence in Kenya and a dedicated claims team servicing over 250,000 members, Cigna Healthcare provides extensive coverage across the continent, ensuring access to health care solutions for local companies and multi-national corporations alike. [The coverage spans several countries, including but not limited to Morocco, Kenya, Uganda, Mauritius, Tanzania, Nigeria, Ghana, Mozambique, Democratic Republic of the Congo (DRC) and Zambia] Cigna Healthcare maintains a global sales capability in 30 countries and jurisdictions, employing over 72,000 people who service more than 164 million customer relationships. To learn more about Cigna Healthcare, visit

Cigna study: High health insurance literacy associated with improved vitality, work productivity, and health outcomes
Cigna study: High health insurance literacy associated with improved vitality, work productivity, and health outcomes

Business Journals

time29-05-2025

  • Health
  • Business Journals

Cigna study: High health insurance literacy associated with improved vitality, work productivity, and health outcomes

The complexity of the U.S. health care system makes it challenging for many people to understand and utilize their health benefits effectively. This adversely affects individual health, worker productivity, and perception of the health care system. With 164 million Americans receiving health benefits through employers, improving health insurance literacy is crucial for enhancing overall health and vitality and driving business success. [1] That's the key finding of new research from Cigna Healthcare that delves into the importance of health insurance literacy, which is the ability to understand, evaluate, and use health insurance information to make informed decisions. 'While many challenges are facing our nation's health care system, health insurance literacy is of urgent importance,' said Dr. David Brailer, chief health officer of The Cigna Group, the parent company of Cigna Healthcare. 'U.S. employers can lead the way, pushing for systemic improvements that drive sustainability of health care, improve quality, and help employees lead healthier and more productive lives. 'By taking proactive steps to educate and support people, employers can help ensure a healthier, more informed, and more engaged workforce,' he said. 'Employers cannot do this alone, however. It requires a collaborative effort across stakeholders that goes beyond delivering communications. It means helping people understand and act appropriately on that information, while advocating for positive change in how the system works.' The ROI of employer-sponsored health benefits and the power of health insurance knowledge The findings underscore the necessity for immediate and long-term actions to improve health insurance literacy, which is associated with better health outcomes, financial stability, and higher satisfaction with the health care system. The research shows that employer-sponsored health benefits yield significant returns on investment (ROI) by lowering direct and indirect medical costs, improving productivity, and aiding in recruitment and retention. By helping employees effectively navigate the health care system, employers gain a productive workforce and stable health care costs. Conversely, the cost of inaction is high, with low health insurance literacy linked to worse health outcomes, reduced productivity, and increased health care costs due to nonadherence and delayed care. The research also reveals a strong correlation between health insurance literacy, health engagement, and vitality. Only 20% of adults surveyed say they have high health insurance literacy, while the majority have medium or low literacy. The report highlights that individuals with high health insurance literacy have higher vitality scores than those with low literacy. Proactive health engagement and better health care experiences The research also explores how higher health insurance literacy leads to proactive health engagement. Individuals with a better understanding of how their insurance works are more likely to rate their physical and mental health positively, manage chronic conditions effectively, and adhere to prescribed treatments. They also are more likely to receive preventive health care services, such as annual physicals, dental cleanings, and cancer screenings. In addition, people with higher health insurance literacy are likely to experience fewer unexpected costs and have better health care experiences. Nearly 1 in 3 people with low health insurance literacy has received an unexpected bill or coverage decision, compared to only 14% of people with high health insurance literacy. These negative experiences can lead to delayed or skipped care. The report also indicates that individuals with high health insurance knowledge are more likely to research and compare health plans and participate in programs to manage their chronic conditions. Knowing how to evaluate and use health insurance is a strong indicator of satisfaction with health benefits. The report finds that 75% of people surveyed with high health insurance literacy are satisfied with their employer benefits, compared to 23% with low literacy. Additionally, 94% of those with high literacy are satisfied with their health insurance provider. Helping employees maximize their health benefits Employers play a critical role in improving health insurance literacy. By investing in educational programs, interactive tools, and supportive environments like those detailed below, employers can help employees use their health benefits effectively. Educational programs with clear communication: Providing health engagement sessions, webinars, and online courses to educate employees about their health benefits. Interactive tools: Offering plan comparison tools, cost calculators, and benefit portals to help employees make informed decisions. Supportive environment: Fostering an environment where employees feel comfortable asking questions and seeking assistance with their health needs. By taking proactive steps to enhance health insurance literacy, employers – and the health care industry as a whole – can create a healthier, better informed, and engaged population. Cigna Healthcare is a health benefits provider that advocates for better health through every stage of life. We guide our customers through the health care system, empowering them with the information and insight they need to make the best choices for improving their health and vitality. Learn more at

CI Q1 Earnings Call: Cigna Delivers Revenue Beat and Focuses on Healthcare Innovation
CI Q1 Earnings Call: Cigna Delivers Revenue Beat and Focuses on Healthcare Innovation

Yahoo

time16-05-2025

  • Business
  • Yahoo

CI Q1 Earnings Call: Cigna Delivers Revenue Beat and Focuses on Healthcare Innovation

Health insurance company Cigna (NYSE:CI) beat Wall Street's revenue expectations in Q1 CY2025, with sales up 14.4% year on year to $65.5 billion. Its non-GAAP profit of $6.74 per share was 6.2% above analysts' consensus estimates. Is now the time to buy CI? Find out in our full research report (it's free). Revenue: $65.5 billion vs analyst estimates of $60.42 billion (14.4% year-on-year growth, 8.4% beat) Adjusted EPS: $6.74 vs analyst estimates of $6.35 (6.2% beat) Adjusted EBITDA: $2.81 billion vs analyst estimates of $2.86 billion (4.3% margin, 1.7% miss) Operating Margin: 3%, in line with the same quarter last year Free Cash Flow Margin: 2.4%, down from 7.9% in the same quarter last year Customers: 16.36 million, down from 17.5 million in the previous quarter Market Capitalization: $82.51 billion Cigna's Q1 results were shaped by continued momentum in its core health services and integrated benefits businesses, with leadership attributing growth to double-digit expansion in specialty pharmacy, strong pharmacy benefit services performance, and notable customer gains in the under-500 employer segment. CEO David Cordani highlighted the company's dual-platform model—EverNorth and Cigna Healthcare—as key to capturing new opportunities in a rapidly evolving healthcare landscape. New CFO Ann Dennison and President Brian Evanko, both recently appointed, also played prominent roles in outlining operational progress and financial discipline. Looking ahead, management's guidance is underpinned by expectations for sustained demand in specialty drugs, increased biosimilar adoption, and continued investments in digital tools and clinical programs. Cordani stated, "We are confident in our ability to sustainably deliver 10% to 14% compounded EPS growth over the strategic horizon," while Evanko emphasized new product launches and service enhancements, particularly around GLP-1 treatments, as important contributors to future growth. Cigna's management discussed several operational and strategic themes that influenced Q1 performance, with an emphasis on leveraging its platform strengths and responding to industry shifts. The quarter's results were largely attributed to product innovation, customer growth in targeted segments, and disciplined capital deployment. Specialty Pharmacy Expansion: Management pointed to double-digit growth in EverNorth's specialty and care services, driven by rising demand for clinically intensive medications and expanded biosimilar offerings, such as the new Humira and Stelara alternatives. GLP-1 Clinical Solutions: The company introduced new programs (EncircleRx, inReachRx, and InGuide) aimed at supporting GLP-1 medication access and affordability, addressing both employer cost concerns and patient adherence challenges. Customer Growth in Select Segment: Cigna Healthcare's under-500 employer group saw 9% year-over-year customer growth, attributed to flexible funding models and consultative client engagement, with management noting significant market share headroom. Medicare Business Divestiture: The completion of the Medicare business sale modestly benefited Q1 earnings and reflects Cigna's ongoing portfolio optimization, enabling a greater focus on core growth platforms. Capital Management Discipline: The company reaffirmed its capital allocation priorities: supporting business growth, pursuing bolt-on acquisitions, and returning excess capital to shareholders through repurchases and dividends. No major capability gaps were identified for near-term M&A focus. Management's outlook for the next quarter and full year centers on specialty drug growth, biosimilar adoption, and continued operational investments, while acknowledging ongoing industry cost pressures and regulatory change. Specialty Drug and Biosimilar Uptake: Management believes that expanding use of specialty medications and biosimilars, particularly GLP-1s and new interchangeable drugs, will underpin revenue and margin growth in both EverNorth and Cigna Healthcare. Digital and Clinical Program Investments: Ongoing rollout of digital tools and personalized clinical programs is expected to enhance patient experience, support client retention, and drive differentiation in the pharmacy benefits market. Regulatory and Cost Trend Risks: The company cited persistent medical cost trends, evolving drug pricing dynamics, and regulatory changes (e.g., state-level PBM legislation) as key variables that could affect future performance, with planning assumptions remaining prudent. Lisa Gill (JP Morgan): Asked about Cigna's strategy for negotiating better GLP-1 pricing and employer coverage trends. Management highlighted competition among manufacturers and comprehensive solution design, noting stable coverage rates and the potential for greater employer adoption as prices decline. A.J. Rice (UBS): Inquired about demand drivers in the pharmacy benefit selling season and employer focus areas. Management cited affordability, specialty drug growth, and personalized clinical programs as current priorities, with strong retention in Express Scripts and customer gains in the select segment. Justin Lake (Wolfe Research): Requested detail on stop-loss margin recovery and client feedback. Management reiterated that the margin improvement plan is on track, with revised pricing incorporated into renewals and retention levels holding steady. Charles Rhyee (TD Cowen): Asked about the impact of Arkansas legislation targeting PBM-pharmacy integration. Management opposed the bill, emphasizing the value of integrated capabilities for savings and access, and advocated for enhanced transparency and client choice instead of regulatory restrictions. Ann Hynes (Mizuho Securities): Queried Cigna's capital deployment and M&A priorities. Leadership reaffirmed a focus on supporting core growth, disciplined bolt-on acquisitions, and no immediate need for new capabilities in either health insurance or EverNorth. In the coming quarters, the StockStory team will monitor (1) the pace of specialty drug and biosimilar adoption, especially in GLP-1 and Stelara categories, (2) the effectiveness of new digital and clinical support tools in driving client retention and patient satisfaction, and (3) the company's execution on stop-loss margin improvement plans. Additional attention will be paid to regulatory developments affecting pharmacy benefit management and the competitive response to Cigna's evolving product portfolio. Cigna currently trades at a forward P/E ratio of 10.1×. Should you load up, cash out, or stay put? See for yourself in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Cigna denies life-saving operation to man battling stage 4 cancer
Cigna denies life-saving operation to man battling stage 4 cancer

Yahoo

time09-05-2025

  • Health
  • Yahoo

Cigna denies life-saving operation to man battling stage 4 cancer

A man fighting for his life as he battles stage 4 cancer is asking for donations after his health insurance denied him a life-saving lung transplant. Deron Wells, 59, is battling advanced lung cancer and his doctors have approved him for a double transplant, a procedure that his loved ones have described as his 'only path to survival.' However, Cigna Healthcare, his health insurer, has refused to authorize the transplant and the emergency medical transport needed to get him to the hospital for the operation. He needs to be transferred to Chicago's Northwestern Memorial Hospital for the operation. Wells was preparing to be moved from UCLA Santa Monica Medical Center on Friday, but Cigna denied coverage for the procedure and the transfer, ABC7 reported. "I am really sad that my life is in the hands of these decision-makers who seem to make these decisions in such a cold way," Wells told the outlet. The father and husband may not survive without immediate intervention, his family says. "The last option we have is for us to take him to Northwestern, period. I hope Cigna really understands the seriousness of the situation. We're not just a number. We are talking about his life," Janet Savarimuthu, his wife, told the outlet. The Independent has reached out to Cigna for comment. The insurer told ABC7 in a statement: "Our coverage guidelines are grounded in national clinical standards to help ensure the best possible outcomes for patients.' Cigna has a 21 percent claim denial rate, according to Value Penguin. The GoFundMe page has garnered $41,000 as of Friday afternoon. The organizer, his friend Scott Kern, is hoping to raise $1.5 million to cover the costs of the procedure, the emergency air transport, post-surgery recovery, and temporary relocation for his family. "Deron deserves this chance that we're fighting so hard to make sure that he gets," Kern told the outlet. Wells is pleading for the insurer to change course since he has much more to live for, telling the outlet: "I'm truly hoping that Cigna will change its tune and will have a positive outlook on this because I'm not done yet.'

Prevention and integration are keys to health care affordability
Prevention and integration are keys to health care affordability

Business Journals

time23-04-2025

  • Health
  • Business Journals

Prevention and integration are keys to health care affordability

By submitting your information you are agreeing to our Privacy Policy and User Agreement . Employee health and well-being are essential for maintaining a productive workforce, which is crucial for business success. While promoting workforce health can seem daunting to smaller businesses due to their limited resources and staff and rising health care costs, affordable health care is within reach. Here are some strategies to help small businesses create a healthier workforce while effectively managing long-term costs. Promote preventive health Preventive care is a cornerstone of affordable health care. Encouraging regular health screenings and vaccinations, as well as providing education on healthy lifestyle choices, can help employees stay healthy and catch any health issues early – before they need more costly interventions. In addition, workplace programs that promote proper nutrition, weight management and smoking cessation can significantly reduce the likelihood of chronic diseases and their associated costs. Even simple workplace initiatives such as employee fitness challenges and healthy on-site food options can make a big difference. Use an integrated approach Offering behavioral health services as part of your health benefit plan provides your employees with comprehensive support for mental health issues such as anxiety, depression and stress. These conditions are associated with worsening physical health. Our research finds that total health care costs for people with comorbid behavioral and physical health conditions are two to three times higher than the costs for those with physical health conditions only. [1] Addressing mental health issues in the workplace has also been shown to reduce overall health care costs. Our research shows that offering integrated health care benefits that connect medical, behavioral health and pharmacy can lead to improved health outcomes for employees and their families as well as better long-term cost management. Our 2024 Value of Integration study, which analyzed Cigna Healthcare employer-sponsored health plan claims, found that integrating these three benefits saved employers $193 per member per year. [2] Consider digital health tools Just as consumers have embraced digital technology to shop, stream entertainment and connect on social media, they have embraced digital experiences in health care. Telehealth grew in popularity during the COVID-19 pandemic, and virtual care is being used at much higher rates now than before the pandemic. [3] Incorporating virtual care services and wellness apps in your benefits offering can help streamline access to health care services and prescriptions, ensuring patients receive timely and cost-effective care. For instance, an employee with an immediate but non-life-threatening health concern can quickly get help via a telehealth session with a health care professional instead of going to urgent care or an emergency room, potentially saving the plan sponsors hundreds of dollars for that single visit. [4] Our research shows that patients who saw virtual care providers had 19% fewer visits to urgent or emergency care compared to patients who don't. [5] Understanding workforce needs is the first step Understanding your employees' needs is the foundation for creating effective prevention campaigns, wellness programs and benefit plans that target their health concerns. You can gather insights into the types of wellness activities and resources that would be most beneficial for employees by conducting anonymous surveys or holding informal one-to-one or group discussions with workers. Also, taking note of employees' health-related interests and preferences (such as favorite physical activities) can help you identify engaging workplace initiatives that are more likely to be successful in supporting workers' health. Boost care affordability by advancing health These strategies are just a few ways small businesses can increase health care affordability by supporting the overall health of employees and reducing the risk of potential health issues. This approach also boosts employment engagement. Research has shown that employees who believe their employer cares about their health and well-being tend to be more engaged in their work. [6] Supporting the health and well-being of employees is not just an investment in their future, but in the future of the business itself. Healthy employees are the foundation of a productive and thriving workforce. The right health plan can help your employees stay healthy and productive. To explore benefits for your business, please visit Cigna Healthcare is a health benefits provider that advocates for better health through every stage of life. We guide our customers through the health care system, empowering them with the information and insight they need to make the best choices for improving their health and vitality. Learn more at expand Sources: [1] Evernorth. 22% of people have a diagnosed behavioral condition. They account for 41% of health care spend. May 18, 2023. Accessed March 31, 2025. [2] Based on a Cigna Healthcare 2024 national book of business study of 2023 claims data of medical customers who have Cigna Healthcare integrated medical, pharmacy and Cigna Total Behavioral Health benefits. Individual client/customer results will vary and are not guaranteed. [3] American Hospital Association. Fact Sheet: Telehealth. February 2025. Accessed March 31, 2025. [4] Based on: An average savings of $141 of using MD Live for virtual urgent care services (from a CignaHealthcare analysis of 2023 medical costs of commercial medical customers) and the average cost of an emergency room visit being $2,453 (Schwartz H, Claxton G, Rae M, Cox C. How do facility fees contribute to rising emergency department costs? Peterson-KFF Health System Tracker, March 27, 2023. Accessed April 3, 2025). [5] Fierce Healthcare. Cigna study: Virtual care can reduce unnecessary ER, urgent care visits by 19%. January 21, 2022. Accessed April 1, 2025. [6] Gallup. What Is Employee Wellbeing? And Why Does It Matter? Accessed March 31, 2025. Scott Morrison joined Cigna HealthCare in September 2006 as the Vice President of Sales and Client Management for the Massachusetts market and is located in Cigna's Newton, Massachusetts, office. Having held various local and regional sales leadership positions while at Cigna, Morrison currently has overall responsibility for the New England markets. Morrison has spent over 30 years in the health care industry.

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