Cigna Corp. CI will expand its Medicare Advantage (MA) health plan offerings to seniors in 67 new counties next year in what is quickly becoming a competitive business proposition for health insurance giants.
The MA health plan will be extended by increasing the company’s MA policy offerings for the 2021 MA enrollment season, which begins Oct 15 and runs through Dec 7. Plans selected during that time will be effective Jan 1, 2021.
Cigna has a relatively smaller share of the Medicare Advantage market, dominated by Humana Inc. HUM and Centene Corp. CNC followed by UnitedHealth Group Inc. UNH.
However, the growing opportunities in this market are attracting Cigna to grab a greater slice of the MA market. An aging U.S. population and bipartisan support from the government made the MA market a prospective place to be which are the private version of the government sponsored Medicare plans. The company