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CIGNA Responds to Recent Articles About Insurer Profits

An article published February 11, 2010 entitled, “Health Insurers Take Heat for Rise in Profits” and written by Noam Levey, has the facts wrong. Mr. Levey relied on an inappropriate methodology in characterizing CIGNA’s earnings. His methodology accounts for CIGNA’s non-health care businesses.

The improvement in CIGNA’s 2009 earnings was driven primarily by our non-health care, runoff business which resulted from the stabilization of the equity markets.

Additionally, contrary to what Health Care for America Now has stated, although not reported in the article, CIGNA, in 2009, increased the percentage of premiums spent on patient medical care to 85.5%. So, in fact, CIGNA spent more money on patient medical care while at the same time was able to reduce administrative operating expenses.

CIGNA continues to strongly support constructive, bipartisan health care reform that will give all Americans access to quality, affordable health care coverage.

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