In a letter addressed to Ballad Health, North American Partners in Anesthesia states Cigna has informed American Anesthesiology of Tennessee, P.C. that it intends to terminate its contract. The letter dated Dec. 19 states that Cigna intends to abruptly terminate the contract, which will take effect on Jan. 1, 2024. The current agreement between Cigna…
Cigna has announced that it plans to raise individual health insurance premiums by 23.6% and small-group premiums by 22.9%. That’s more than double the industry average, according to Modern Healthcare. The massive rate hike comes after Cigna reported second quarter profits of $1.46 billion.
Cigna reported that it earned more than $2.7 billion in profits during the first half of the year. The insurer saw profits jump 24% last year, earning $6.7 billion in profits during 2022. That ranked second among all health insurers, behind only UnitedHealthcare. This year, Cigna’s second quarter profits were fueled by a sharp increase…
The United States Justice Department has announced that Cigna will pay $172,294,350 to resolve allegations that it violated the False Claims Act by submitting and failing to withdraw inaccurate and untruthful diagnosis codes for its Medicare Advantage Plan enrollees. The false claims were designed to increase Cigna’s payments from Medicare. Cigna also recently announced that…