Cigna

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Congress expands McD probe into mini-med insurance

A congressional committee is widening its investigation of bare-bones health-insurance policies to encompass potentially hundreds of plans offered by low-wage employers.

What started as a probe into McDonald’s Corp.’s insurance plan for store workers is expanding into broad scrutiny of “mini-med” policies that could ensnare large mini-med carriers including Aetna Inc. and Cigna Corp. Get the full story »

New health insurance spending rules finalized

New U.S. health insurance spending rules aimed at ensuring more customer dollars go toward medical care were finalized on Monday, ending a source of uncertainty for investors in the sector.

Though the limits are mandated in the new health care law, insurers such as Aetna Inc. and WellPoint Inc. did win some concessions from the U.S. government surrounding implementation of the rules and shares of health insurers mostly rose. Get the full story »

Cigna 3Q profit falls 6.7% on costs

Managed care company Cigna Corp. said Friday its third-quarter profit fell 6.7 percent on higher medical costs and losses from the company’s reinsurance segment. The Philadelphia insurer says it earned $307 million, or $1.13 per share, in the three months that ended Sept. 30. That’s down from the $329 million, or $1.19 per share, in the same period last year. Get the full story »