Cigna targets small biz with new health plans
For the first time, Cigna HealthCare is setting its sights on two markets it had all but ignored in the past: health insurance for individuals and families — and businesses with 50 or fewer employees.
The Bloomfield, Conn.-based company rolled out a suite of new health plans specifically to target these two fast-growing health insurance markets — starting with Texas and Arizona in mid-September.
The company plans to add three new states every quarter throughout 2009, said Jay Saad, Cigna’s vice president of Select Segment in Texas, which targets businesses of 250 or fewer employees.
Historically, Cigna (NYSE: CI) has focused its efforts on large companies. About 85% of Cigna’s clients are large companies with 250 or more workers that are self-insured and about 15% are midsized to large companies that are fully insured, with Cigna taking the risk, he said.