Cigna MLR Reaches Record Low As Insurer Beats Expectations
August
3
Cigna Corp. handily beat analysts’ expectations for its second quarter earnings and posted a record low medical loss ratio of 70.5% as members continued to defer non-emergency medical visits and procedures due to the COVID-19 pandemic.
The insurer, which reported earnings July 30, posted only a 1% quarter-over-quarter decline in commercial enrollment and strong growth in its Express Scripts PBM business. But CEO David Cordani warned in Cigna’s earnings conference call that the company expects to see “lower levels of employment across our book” through the second half of the year, with a slow economic recovery in 2021.
© 2022 MMIT
Meet Our Reporters
-
Angela Maas Managing Editor, RADAR on Specialty Pharmacy and Spotlight on Market Access
View Angela Maas's Profile -
Leslie Small Managing Editor, Health Plan Weekly and RADAR on Drug Benefits
View Leslie Small's Profile -
Lauren Flynn Kelly Managing Editor, RADAR on Medicare Advantage
View Lauren Flynn Kelly's Profile -
Peter Johnson Reporter, Health Plan Weekly and RADAR on Drug Benefits
View Peter Johnson's Profile -
Tim Casey Reporter, Health Plan Weekly and RADAR on Drug Benefits
View Tim Casey's Profile -
Carina Belles Reporter, RADAR on Medicare Advantage and Spotlight on Market Access
View Carina Belles's Profile -
Jinghong Chen Reporter, Health Plan Weekly and RADAR on Drug Benefits
View Jinghong Chen's Profile