Cigna exits ACA exchanges despite dramatic profit growth in Q1

Rebecca Pifer Parduhn / healthcaredive - The insurer plans to say goodbye to the ACA exchanges after this year, and is exploring a potential sale of its controversial claims review subsidiary. Both businesses were more trouble than they were worth, executives said.

AI Summary: Cigna announced it will withdraw from Affordable Care Act individual exchanges even after reporting robust first-quarter earnings. The insurer cites strategic and operational reasons for exiting markets where risk and costs bite, a move likely to reduce competition in some states and could leave consumers with fewer plan choices or higher premiums.

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Cigna exits ACA exchanges despite dramatic profit growth in Q1