Cigna Completes $3.3B Sale of Medicare Assets to HCSC

The Cigna Group has completed the $3.3 billion sale of its Medicare Advantage, Supplemental Benefits, Medicare Part D, and CareAllies businesses to Health Care Service Corporation (HCSC). This strategic move aims to streamline Cigna's operations and focus on its health services division, Evernorth Health Services, while providing financial flexibility for future investments. The transaction is expected to have no impact on current coverage or service for Medicare customers, as Cigna will continue to provide pharmacy benefit services under service agreements. HCSC plans to enhance its Medicare offerings, recognizing the growing healthcare needs of seniors. Cigna's decision to exit the Medicare business reflects broader trends in the industry, with some competitors also scaling back their Medicare Advantage services. The sale aligns with Cigna's goal of optimizing its portfolio and enhancing shareholder value.