Latest news with #TheCignaGroup
Yahoo
6 days ago
- Business
- Yahoo
The Cigna Group Announces Appointment of Michael J. Hennigan to Board of Directors
BLOOMFIELD, Conn., June 2, 2025 /PRNewswire/ -- Global health company The Cigna Group (NYSE:CI) announced today that Michael J. Hennigan has been appointed to the organization's Board of Directors. His appointment is effective June 2. Mr. Hennigan is the Executive Chairman of Marathon Petroleum Corporation (MPC), an integrated downstream energy company, and MPLX, a diversified master limited partnership formed by MPC. He joined the company in 2017 and previously held the roles of Chief Executive Officer of MPC and Chairman, President and Chief Executive Officer of MPLX. Prior to joining MPLX, Mr. Hennigan was President of Crude, NGL, and Refined Products of the general partner of Energy Transfer Partners L.P. Mr. Hennigan began his career at Sunoco, Inc., and spent more than three decades advancing through roles, ultimately becoming President and Chief Executive Officer of Sunoco Logistics. "We are delighted to welcome Mike to The Cigna Group's Board of Directors," said David Cordani, President and Chief Executive Officer of The Cigna Group. "Mike is a transformational leader whose extensive business experience and proven track record in leading significant strategic initiatives will be invaluable as we continue to advance our mission. His deep understanding of complex, regulated markets and commitment to operational excellence will help us drive growth, enhance value, and further our commitment to improving our customers' healthcare experiences." Mr. Hennigan has extensive experience in refining, logistics, and marketing, and has demonstrated strong leadership in managing global business operations. He has dedicated his entire career to the energy industry and therefore possesses a deep understanding of the complexities of a regulated market. His strategic vision and commitment to operational excellence have been instrumental in driving growth and enhancing shareholder value. Hennigan earned a Bachelor of Science degree in chemical engineering from Drexel University in Philadelphia. 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 more than 190 million customer relationships around the world. Learn more at Media Contact Jocelyn View original content to download multimedia: SOURCE The Cigna Group 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
Yahoo
29-05-2025
- Business
- Yahoo
National pharmacy company sues Arkansas over law eliminating PBM pharmacy ownership
Video: Arkansas bill would prevent Pharmacy Benefit Managers from owning pharmacies LITTLE ROCK, Ark. – A lawsuit was filed in Little Rock federal court on Thursday to overturn an Arkansas law preventing pharmacy benefit managers from operating pharmacies in the state. The suit filed by the pharmacy benefit management firm Express Scripts by Evernorth claims that violates the Constitution and federal law. It requests that the court prevent Act 624 from going into effect. Arkansas Gov. Sarah Huckabee Sanders signs bill blocking PBM ownership of pharmacies into law St. Louis-based Express Scripts is the pharmacy benefit management arm of The Cigna Group, a multinational health care and insurance company. Pharmacy benefits managers act as intermediaries between pharmaceutical companies and insurance companies to set rates, including the compensation amounts paid to pharmacies. Act 624 prohibits pharmacy benefit managers (PBMs) from owning pharmacies in Arkansas. The lawsuit claims that Act 624 violates the Constitution's Commerce Clause and the Privileges & Immunities Clause. It also states the law violates the Constitution's Attainder Clause, which prevents laws from being passed that punish individuals or groups without a trial. The lawsuit continues to claim that it interferes with federal law since the act would prevent Express Scripts from honoring its TRICARE contract with the Department of Defense. TRICARE is the health plan, including pharmacy support, for active duty National Guard, reserve, and retired military members and their families. The suit has multiple plaintiffs under the Express Scripts umbrella and is filed against the state pharmacy board and its members. CVS shares statement after Arkansas bill restricting PBMs from owning pharmacies is signed into law Evernorth Health Services Vice President of Pharmacy Practice and pharmacist Susan Peppers said the suit was filed to ensure continued access to care. 'Our family of pharmacies—including Express Scripts Pharmacy, Accredo Specialty Pharmacy and Freedom Fertility Pharmacy—are proud to serve Arkansans, and this law will disrupt their access to the care we provide,' Peppers said. 'If this law takes effect in January, hundreds of thousands of Arkansans will be left scrambling to navigate the forced closure of pharmacies and finding new ways to get their medicines and critical clinical support.' Peppers continued that Evernorth was doing 'everything we can' to protect Arkansas patients. Arkansas Attorney General Griffin signs letter asking for federal law to prohibit Pharmacy Benefit Managers from owning pharmacies Attorney General Tim Griffin, whose office will defend against the case, stated that PBMs hinder access and quality. 'Pharmacy benefit managers wield outsized power to reap massive profits at the expense of consumers,' Griffin said. 'The rise of PBMs as middlemen in the prescription drug market has resulted in patients facing fewer choices, lower quality care, and higher prices.' Griffin added that PBMs 'leverage their affiliated pharmacies to manipulate prices, corrupt the market, and destroy competition. Through Act 624, Arkansas is standing up to PBMs on behalf of consumers, and I will vigorously defend our law.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Journals
29-05-2025
- 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
Yahoo
26-05-2025
- Business
- Yahoo
UBS Maintains Buy Rating on Cigna (CI) Stock
On Friday, May 23, UBS analyst AJ Rice reaffirmed a 'Buy' rating on The Cigna Group (NYSE:CI) with a price target of $390. Rice shared his views after a recent investor event at the Evernorth Innovation Lab, which was held together with the company's management team. The Cigna Group's (NYSE:CI) strategic departure from the Medicare Advantage (MA) business was highlighted. The company's management showed strong confidence regarding the current mix of businesses, which includes commercial healthcare, pharmacy benefit management, and specialty drug and other care services. A healthcare team discussing strategies for patient advocacy programs. Rice expressed confidence that The Cigna Group (NYSE:CI) can continue to achieve its goal of low-double-digit earnings growth. This positive outlook is in part because the company is strategically moving away from the difficulties linked to government-related healthcare programs. The analyst's report emphasized the company's diverse business portfolio as a key strength. A key topic at the event was The Cigna Group's (NYSE:CI) GLP1 program. Rice discussed this program, which is for clients who do not currently cover GLP1 medications for weight management. This represents about half of Evernorth's clients. The program aims to make GLP1 treatments more accessible by sharing costs fairly between the plan sponsor and the patients, while also offering a lower net cost of these drugs for all clients. According to Rice, this program will help both clients and patients by offering more accessible treatment options and managing costs effectively. The Cigna Group (NYSE:CI) is a global health company that operates through two divisions, Cigna Healthcare and Evernorth Health Services. The company has sales capabilities in over 30 markets and jurisdictions. While we acknowledge the potential of CI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CI and that has a 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Yahoo
02-05-2025
- Business
- Yahoo
Cigna (NYSE:CI) Reports Bullish Q1
Health insurance company Cigna (NYSE:CI) reported Q1 CY2025 results topping the market's revenue expectations , 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 Cigna? Find out in our full research report. 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) Operating Margin: 2.8%, down from 3.9% in the same quarter last year Customers: 18.04 million, up from 17.5 million in the previous quarter Market Capitalization: $90.87 billion "We are building a more sustainable health care model by successfully delivering on our series of commitments and actions to improve transparency and support for our customers and patients," said David M. Cordani, chairman and CEO of The Cigna Group. With roots dating back to 1792 and serving millions of customers across the globe, The Cigna Group (NYSE:CI) provides healthcare services through its Evernorth Health Services and Cigna Healthcare segments, offering pharmacy benefits, specialty care, and medical plans. Examining a company's long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Luckily, Cigna's sales grew at a decent 12% compounded annual growth rate over the last five years. Its growth was slightly above the average healthcare company and shows its offerings resonate with customers. Long-term growth is the most important, but within healthcare, a half-decade historical view may miss new innovations or demand cycles. Cigna's annualized revenue growth of 18.1% over the last two years is above its five-year trend, suggesting its demand recently accelerated. We can better understand the company's revenue dynamics by analyzing its number of customers, which reached 18.04 million in the latest quarter. Over the last two years, Cigna's customer base averaged 3.3% year-on-year growth. Because this number is lower than its revenue growth, we can see the average customer spent more money each year on the company's products and services. This quarter, Cigna reported year-on-year revenue growth of 14.4%, and its $65.5 billion of revenue exceeded Wall Street's estimates by 8.4%. Looking ahead, sell-side analysts expect revenue to remain flat over the next 12 months, a deceleration versus the last two years. This projection is underwhelming and implies its products and services will face some demand challenges. At least the company is tracking well in other measures of financial health. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Cigna was profitable over the last five years but held back by its large cost base. Its average operating margin of 4.3% was weak for a healthcare business. Analyzing the trend in its profitability, Cigna's operating margin decreased by 1.4 percentage points over the last five years. A silver lining is that on a two-year basis, its margin has stabilized. We like Cigna and hope it can right the ship. In Q1, Cigna generated an operating profit margin of 2.8%, down 1.1 percentage points year on year. This reduction is quite minuscule and indicates the company's overall cost structure has been relatively stable. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Cigna's EPS grew at a remarkable 9.1% compounded annual growth rate over the last five years. However, this performance was lower than its 12% annualized revenue growth, telling us the company became less profitable on a per-share basis as it expanded due to non-fundamental factors such as interest expenses and taxes. We can take a deeper look into Cigna's earnings quality to better understand the drivers of its performance. As we mentioned earlier, Cigna's operating margin declined by 1.4 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its lower earnings; taxes and interest expenses can also affect EPS but don't tell us as much about a company's fundamentals. In Q1, Cigna reported EPS at $6.74, up from $6.47 in the same quarter last year. This print beat analysts' estimates by 6.2%. Over the next 12 months, Wall Street expects Cigna's full-year EPS of $27.61 to grow 11.1%. We were impressed by how significantly Cigna blew past analysts' customer base expectations this quarter. We were also excited its revenue outperformed Wall Street's estimates by a wide margin. Zooming out, we think this was a solid print. The stock traded up 1.5% to $340 immediately after reporting. Sure, Cigna had a solid quarter, but if we look at the bigger picture, is this stock a buy? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free.
