The latest announced mega-merger, between Cigna and Express Scripts, should put Congress on alert, the top Democrat on the House Energy and Commerce Committee said. Rep. Frank Pallone is calling for an oversight hearing.
The $67 billion merger would allow Cigna to lower its costs by insourcing PBM services, and absorb the profits of the biggest stand-alone PBM at a time when its competitors are also pairing up with providers of pharmacy services.
Supply chain experts are skeptical the $67 billion Cigna Corp.-Express Scripts deal will do much to transform the healthcare industry, let alone deliver any significant savings to customers.
Bright Star Community Outreach on Chicago's South Side is using faith to help healthcare stakeholders connect with community members victimized by the trauma of gun violence.
Cigna Corp. CEO David Cordani said there's opportunity for the insurer in the Amazon-JPMorgan Chase-Berkshire Hathaway venture. Meanwhile, the insurer reported that customer growth and higher premiums and fees helped boost its 2017 revenue.
Cigna grew profit and revenue in the third quarter of 2017, thanks to enrollment and premium growth in its commercial employer business. But its international revenue has taken a hit as the U.S. winds down its involvement in Iraq, Afghanistan.
Addiction experts are skeptical that Cigna Corp.'s decision to stop covering opioid pain medication OxyContin will make much of an impact on the opioid abuse crisis.
The Bloomfield, Conn.-based insurer grew revenue and premiums in the second quarter of 2017, while its profit benefited from its terminated merger agreement with Anthem.
Bloomfield, Conn.-based Cigna may immediately resume marketing its Medicare Advantage plans and enrolling members. Insurance industry analysts noted that the lifted sanctions pave the way for Cigna to pursue an acquisition in the lucrative Medicare Advantage segment.
Cigna and Anthem finally ended their merger agreement. But the two companies will likely remain in court as they battle over a $1.85 billion breakup fee.
There is no guarantee that the court will hear Anthem's case. The court receives 7,000 to 8,000 petitions for a writ of certiorari each term and hears oral arguments for just 80 cases.
After convincing one appellate judge that the $54 billion proposed merger had merit, Anthem may continue its unlikely fight to defend the deal and separately avoid paying a $1.85 billion break-up fee and other damages to Cigna.