HCSC, Elevance Compete for Cigna Medicare Advantage Unit

 

• Medicare Advantage unit forecast to lose money in 2023, 2024
• Cigna recently called off talks with Humana over megamerger

Health Care Service Corp. and Elevance Health Inc. are competing to acquire Cigna Group’s business providing medical coverage to people aged 65 and over, people with knowledge of the matter said.

Bloomfield, Connecticut-based Cigna expects final bids for its Medicare Advantage business to be submitted next week, according to the people. The asset may fetch more than $3 billion, they said.

https://www.bloomberg.com/news/articles/2023-12-15/hcsc-elevance-compete-for-cigna-medicare-advantage-unit