Cigna's profits have been booming since the roll out of Obamacare. This doesn't seem to be a solvency issue at all.
May 14, 2015
By Bruce Japsen
Cigna CI +2.18% (CI) became (click here) the latest in a parade of health insurance companies to report they are going to make even more money than they thought they would in 2014 thanks to new business strategies and a surge of younger customers signing up for coverage under the Affordable Care Act.
Cigna executives this morning now expect income from operations in the range of $1.93 billion and $2 billion or between $7.05 and $7.35 a share for 2014. That’s an increase of 20 cents per share from previous guidance, the company said during its first quarter earnings report....
In all honesty it looks like Anthem is setting itself up for an anti-trust lawsuit. Perhaps Anthem believes it is immune from such action because it is a health care company. I don't think so. If the government doesn't take up anti-trust there is corruption.
February 5, 2015
By Bob Herman
Profit at Cigna Corp. soared 29% in its fourth quarter (click here) and investors should expect continued growth this year, the insurer said.
Cigna's fourth-quarter net income was $467 million, compared with $361 million in the same period of 2013. Profit on the year increased 42% to $2.1 billion.
Higher premiums and moderate growth in medical claims drove the positive results, Cigna said. Its Medicare Advantage segment had a particularly strong quarter and year with more seniors enrolled in Cigna plans. Cigna expects Medicare Advantage enrollment will grow from 6% and 8% in the coming year as the company hunts for plans to acquire in specific regions, CEO David Cordani said during an investor call.
Full-year revenue topped $34.9 billion, up 8% from 2013. The lack of one-time charges and negative cost trends made for “one of the company's cleanest quarters in a long time,” said Josh Raskin, an analyst at Barclays Research....
This looks like nothing but a power grab over control of the health care system. The profits by these companies doesn't seem to lend itself to the pay hikes predicted. There needs to be an investigation to the so called premium hikes. None of this dovetails into a recognizable problem with these companies. Their making money hand over fit and now the number one health care insurer it devouring small but substantial companies. It just spells monopoly to me.
July 24, 2015
By Carolyn Johnson
Anthem, the nation's second largest health insurer, (click here) will acquire Cigna, the nation's fifth largest, the companies announced Friday, creating a health insurance behemoth that raises fresh questions about competition in the industry.
The deal, which will create the largest private health insurer as measured by the number of members, values Cigna at $188 per share, a 38 percent premium from its closing price of $154 a share on Thursday. Cigna shareholders will receive a combination of stock and cash in the transaction.
A merged company would serve 53 million people and is part of a dramatic, long-predicted reshaping of the health insurance landscape as a result of the Affordable Care Act. UnitedHealthcare has 45 million members, and Humana and Aetna announced they would merge in July, creating a company serving 33 million people. The new company is projected to generate $115 billion in annual revenues....
May 14, 2015
By Bruce Japsen
Cigna CI +2.18% (CI) became (click here) the latest in a parade of health insurance companies to report they are going to make even more money than they thought they would in 2014 thanks to new business strategies and a surge of younger customers signing up for coverage under the Affordable Care Act.
Cigna executives this morning now expect income from operations in the range of $1.93 billion and $2 billion or between $7.05 and $7.35 a share for 2014. That’s an increase of 20 cents per share from previous guidance, the company said during its first quarter earnings report....
In all honesty it looks like Anthem is setting itself up for an anti-trust lawsuit. Perhaps Anthem believes it is immune from such action because it is a health care company. I don't think so. If the government doesn't take up anti-trust there is corruption.
February 5, 2015
By Bob Herman
Profit at Cigna Corp. soared 29% in its fourth quarter (click here) and investors should expect continued growth this year, the insurer said.
Cigna's fourth-quarter net income was $467 million, compared with $361 million in the same period of 2013. Profit on the year increased 42% to $2.1 billion.
Higher premiums and moderate growth in medical claims drove the positive results, Cigna said. Its Medicare Advantage segment had a particularly strong quarter and year with more seniors enrolled in Cigna plans. Cigna expects Medicare Advantage enrollment will grow from 6% and 8% in the coming year as the company hunts for plans to acquire in specific regions, CEO David Cordani said during an investor call.
Full-year revenue topped $34.9 billion, up 8% from 2013. The lack of one-time charges and negative cost trends made for “one of the company's cleanest quarters in a long time,” said Josh Raskin, an analyst at Barclays Research....
This looks like nothing but a power grab over control of the health care system. The profits by these companies doesn't seem to lend itself to the pay hikes predicted. There needs to be an investigation to the so called premium hikes. None of this dovetails into a recognizable problem with these companies. Their making money hand over fit and now the number one health care insurer it devouring small but substantial companies. It just spells monopoly to me.
July 24, 2015
By Carolyn Johnson
Anthem, the nation's second largest health insurer, (click here) will acquire Cigna, the nation's fifth largest, the companies announced Friday, creating a health insurance behemoth that raises fresh questions about competition in the industry.
The deal, which will create the largest private health insurer as measured by the number of members, values Cigna at $188 per share, a 38 percent premium from its closing price of $154 a share on Thursday. Cigna shareholders will receive a combination of stock and cash in the transaction.
A merged company would serve 53 million people and is part of a dramatic, long-predicted reshaping of the health insurance landscape as a result of the Affordable Care Act. UnitedHealthcare has 45 million members, and Humana and Aetna announced they would merge in July, creating a company serving 33 million people. The new company is projected to generate $115 billion in annual revenues....
