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, according to people familiar with the matter. Cigna, which got into the Medicare Advantage business with its $3.8 billion acquisition of HealthSpring in 2011, would be backing away at a time the U.S. government is tightening its purse strings in reimbursing health insurers for their services, should it go through with the move.
Read the full article: Cigna Explores Shedding Medicare Advantage Business //
Source: https://www.reuters.com/markets/deals/cigna-explores-shedding-medicare-advantage-business-sources-2023-11-06