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Cigna explores shedding Medicare Advantage business 

DealsGovernmentHealth

Reuters was first to report that U.S. health insurer Cigna Group (CI.N) is exploring the sale of its Medicare Advantage business, which manages government health insurance for people aged 65 and older, a move that would mark a reversal of its expansion in the sector.  

Market Impact

Cigna shares rose as much as 1% to $314.06 after Reuters reported the talks, but gave back some of those gains and were up about 0.4% in midday trading. Cigna’s Medicare Advantage business generated 4.4% of the company’s $179.4 billion in revenue from external customers in 2022. Those eligible must already be covered by Medicare, a government program that mainly applies to Americans age 65 and over, or those with some disabilities.

Article Tags

Topics of Interest: DealsGovernmentHealth

Type: Reuters Best

Sectors: Business & FinanceMergers & AcquisitionPharmaceuticals & Healthcare

Regions: Americas

Countries: US

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

Reuters

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