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Cigna explores shedding Medicare Benefit enterprise

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Reuters was first to report that U.S. well being insurer Cigna Group (CI.N) is exploring the sale of its Medicare Benefit enterprise, which manages authorities medical health insurance for individuals aged 65 and older, a transfer that might mark a reversal of its growth within the sector.

Market Affect

Cigna shares rose as a lot as 1% to $314.06 after Reuters reported the talks, however gave again a few of these positive aspects and had been up about 0.4% in noon buying and selling. Cigna’s Medicare Benefit enterprise generated 4.4% of the corporate’s $179.4 billion in income from exterior prospects in 2022. These eligible should already be coated by Medicare, a authorities program that primarily applies to Individuals age 65 and over, or these with some disabilities.

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