U.S. regulators have temporarily banned health insurer Cigna from offering certain Medicare plan to new patients after a probe uncovered issues with the current offerings.
It has not been announced if current Cigna Healthspring clients will receive a SEP (special election period where they can change their Medicare Advantage plan). The sanctions, which took effect at the end of the day Thursday, do not affect patients who are already enrolled.
“CMS imposed sanctions due to deficiencies discovered with Cigna’s operations of its Part C and D appeals and grievances, Part D formulary and benefit administration, and compliance program.”
Cigna had market share of 3% in Medicare Advantage plans in 2015, representing about 502,00 patients according to Kaiser Family Foundation.
Cigna is working to resolve these matters as quickly as possible and is cooperating fully with CMS on its review. Cigna is committed to its customers and ensuring that its customers have access to the quality healthcare, customer services and prescription drugs that they need.
We are still waiting for a statement to be released by a Cigna spokesperson soon. At this time please call us here at Senior Financial Group if you have any questions in regard to your Cigna Healthspring plan. Our number is 865-777-0153!