Anthem Cigna Merger
Anthem purchased Cigna in a $54 billion deal, expected to close in 2016.
Slimming options for consumers to only three companies, the merged insurer covers 53 million members. Active in 30 countries including the U.S. at the time of the buyout, Cigna was a key player in employer coverage worldwide.
Anthem’s presence in 26 states, and strength in the individual market, trumped Cigna’s participation in the Obamacare plans. The acquisition will increase Anthem’s network size and membership.
Cigna is one of the nation’s oldest health insurance companies, formed and headquartered in Connecticut.
In 1792 after a series of meetings in Philadelphia’s Independence Hall, the Insurance Company of North America (INA) was formed. INA was the first marine insurance company in the United States, and it is still the nation’s oldest stockholder-owned insurer.
Many years later in 1865, the Connecticut General Life Insurance Company was created by the state. Cigna was established in 1982, resulting from a merger between these two companies, and continues to be a strong source of coverage for employers, individuals, and families.
Cigna is active in 30 countries and jurisdictions, has 37,000 employees worldwide, an generated $35 billion in revenues for 2014. Cigna offers products and services in health care coverage; group disability, life and accident insurance; and international insurance.
Their health insurance products cater to employers, individuals, families, and seniors, with medical and dental products available.
- 14.5 million Medical members worldwide
- 12.9 million Dental members
- 7.5 million Pharmacy members
- 7.5 million insured by Group Disability
- 6 million insured by Group Life
- 459,000 Medicare Advantage Customers
- 59,000 Medicaid members
More than 1 million partnerships with medical professionals and facilities including:
- 89,000 participating behavioral health care professionals
- 74,000 contracted pharmacies
- 69,700 vision providers
- 134,000 Dental PPO providers
- 20,000 Dental HMO providers
- 11,400 facilities and clinics
Cigna Individual Health Insurance
Cigna only began selling individual policies in the mid-2000s, after having been most notably known as a large HMO company and Group health insurance carrier. Cigna has since become one of our nation’s largest health insurance companies, and their network is enormous.
They are competitive in certain markets and not in others, it truly depends on the region. Health policies can vary greatly from one state to another.
Find out more about Cigna plans in your state: