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Cigna Corp CI Stock Quote

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Cigna Still Targeting Low-Double-Digit Earnings Growth in Long Run

Julie Utterback, CFA Senior Equity Analyst

Business Strategy and Outlook

| Julie Utterback, CFA |

With its roots in health insurance and the late 2018 merger with top-tier pharmacy benefit manager Express Scripts, Cigna provides healthcare-related services through customizable programs paid for primarily by U.S. employers and government agencies. We think its strategy of reducing medical cost growth should resonate well with existing and potential clients. Healthcare cost trends in the United States remain significantly above inflation, but Cigna has set an ambitious goal to remedy that for its commercial clients, pushing down that trend to or even below the consumer price index in the near future. If Cigna can achieve that goal, clients should benefit along with Cigna, and we think this reduction in its cost trend may help Cigna attract more business from existing and potential clients.

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Business Description

Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM services were greatly expanded by its 2018 merger with Express Scripts and are mostly sold to health insurance plans and employers. Its largest PBM contract is the Department of Defense. In health insurance and other benefits, Cigna mostly serves employers through self-funding arrangements, but it also operates in government programs, such as Medicare Advantage. The company operates mostly in the U.S. with 15 million medical members covered as of the end of 2020, but its services extend internationally, covering another 2 million people.

900 Cottage Grove Road
Bloomfield, CT, 06002
T +1 860 226-6000
Industry Healthcare Plans
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 73,700

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