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Cigna (CI) Unit to Offer ACA Plans in 350 Counties in 2024
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The Cigna Group’s (CI - Free Report) Cigna Healthcare plans to provide comprehensive health care plans at affordable rates in the Affordable Care Act (“ACA”) Marketplace in 14 states next year. The move is expected to benefit its government business unit and network quality. It has retained a solid presence in the ACA Marketplace over the past decade.
The Cigna Healthcare ACA plans are expected to be offered in 350 counties, including expanded coverage in 15 counties in North Carolina. The expansion is expected to reach an additional 200,000 ACA Marketplace customers. Moves like this help the company increase its membership figures. We expect its total medical customers to increase nearly 8% in 2023, a massive chunk of the growth coming from the U.S. Government business.
The open enrollment is likely to start on Nov 1. Most of these plans will have primary care provider copays within $0-$70, as well as urgent care visit copays for non-emergency types within $30-$110. The plans will reward the healthy behavior of customers with incentives of up to $325, which can be redeemed through the Take Control Rewards Program.
They can utilize CI’s massive network to receive 30-day retail prescriptions. The network has more than 67,000 pharmacies. We expect total 2023 pharmacy revenues to jump 4.4% year over year. To improve accessibility and savings, customers can use personalized digital tools like myCigna mobile app and Cigna One Guide. They will also have access to 24/7 virtual medical and behavioral health care. It will help the company to boost its platform’s usage.
Price Performance
Shares of Cigna have gained 16% in the past three months compared with the 2.1% growth of the industry it belongs to.
The Zacks Consensus Estimate for Select Medical’s 2023 earnings indicates a 56.9% year-over-year increase to $1.93 per share. It has witnessed one upward estimate revision over the past week against no movement in the opposite direction. The consensus mark for SEM’s 2023 revenues indicates 4.2% growth from a year ago.
The Zacks Consensus Estimate for Atai Life Sciences’ current-year earnings indicates a 16.3% improvement from the year-ago reported figure. It has witnessed four upward estimate revisions over the past week against no movement in the opposite direction. ATAI beat earnings estimates in two of the last four quarters, met once and missed on the other occasion.
The Zacks Consensus Estimate for HCA Healthcare’s 2023 bottom line suggests a 9.1% increase from the prior-year levels. HCA has witnessed seven upward estimate revisions in the past 30 days against none in the opposite direction. It beat earnings estimates in three of the last four quarters and missed once, with the average surprise being 5.4%.
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Cigna (CI) Unit to Offer ACA Plans in 350 Counties in 2024
The Cigna Group’s (CI - Free Report) Cigna Healthcare plans to provide comprehensive health care plans at affordable rates in the Affordable Care Act (“ACA”) Marketplace in 14 states next year. The move is expected to benefit its government business unit and network quality. It has retained a solid presence in the ACA Marketplace over the past decade.
The Cigna Healthcare ACA plans are expected to be offered in 350 counties, including expanded coverage in 15 counties in North Carolina. The expansion is expected to reach an additional 200,000 ACA Marketplace customers. Moves like this help the company increase its membership figures. We expect its total medical customers to increase nearly 8% in 2023, a massive chunk of the growth coming from the U.S. Government business.
The open enrollment is likely to start on Nov 1. Most of these plans will have primary care provider copays within $0-$70, as well as urgent care visit copays for non-emergency types within $30-$110. The plans will reward the healthy behavior of customers with incentives of up to $325, which can be redeemed through the Take Control Rewards Program.
They can utilize CI’s massive network to receive 30-day retail prescriptions. The network has more than 67,000 pharmacies. We expect total 2023 pharmacy revenues to jump 4.4% year over year. To improve accessibility and savings, customers can use personalized digital tools like myCigna mobile app and Cigna One Guide. They will also have access to 24/7 virtual medical and behavioral health care. It will help the company to boost its platform’s usage.
Price Performance
Shares of Cigna have gained 16% in the past three months compared with the 2.1% growth of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank and Key Picks
Cigna currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the medical space are Select Medical Holdings Corporation (SEM - Free Report) , Atai Life Sciences N.V. (ATAI - Free Report) and HCA Healthcare, Inc. (HCA - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Select Medical’s 2023 earnings indicates a 56.9% year-over-year increase to $1.93 per share. It has witnessed one upward estimate revision over the past week against no movement in the opposite direction. The consensus mark for SEM’s 2023 revenues indicates 4.2% growth from a year ago.
The Zacks Consensus Estimate for Atai Life Sciences’ current-year earnings indicates a 16.3% improvement from the year-ago reported figure. It has witnessed four upward estimate revisions over the past week against no movement in the opposite direction. ATAI beat earnings estimates in two of the last four quarters, met once and missed on the other occasion.
The Zacks Consensus Estimate for HCA Healthcare’s 2023 bottom line suggests a 9.1% increase from the prior-year levels. HCA has witnessed seven upward estimate revisions in the past 30 days against none in the opposite direction. It beat earnings estimates in three of the last four quarters and missed once, with the average surprise being 5.4%.