Cigna + Oscar Expands Small Businesses’ Access to Affordable Health Plans in California
April 08 2021 - 9:18AM
Business Wire
- Across the Bay Area, Central Coast, Greater Sacramento, Inland
Empire, Los Angeles, Orange County, North Bay, and San Diego, Cigna
+ Oscar will offer small businesses access to affordable,
member-first health insurance products.
- Covered employees will have access to $0 co-pay 24/7 virtual
doctor visits, low cost prescription coverage, behavioral health
support, and Cigna’s networks of quality physicians, specialists
and hospitals.
Cigna, a leading global health service company, and Oscar
Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance
company built on a full stack technology platform, today announced
that Cigna + Oscar1 small business health insurance will be
available in the Bay Area, Central Coast, Greater Sacramento,
Inland Empire, Los Angeles, Orange County, North Bay, and San Diego
regions.
“Small businesses are the heart of the economy, and of their
local communities. Now more than ever, they need affordable health
insurance that works for them and their employees,” said Bruce
Grimm, Cigna's senior vice president of segments. “Cigna + Oscar
brings together Cigna's nationwide and local provider networks, and
Oscar’s member-focused experience, to deliver small group health
insurance for the unique needs of small businesses. We are excited
to bring this innovative partnership to California to help small
businesses prioritize their employees’ health needs.”
Businesses all across California have been fighting to keep
their doors open since the beginning of the COVID-19 pandemic. As
small businesses plan for the future, 88% surveyed by Cigna + Oscar
are prioritizing employee health, and 66% said health insurance is
more important in their budgets now than prior to the pandemic.
“The COVID-19 pandemic has impacted us all, especially small
businesses, in ways that no one could have imagined,” said Louis
DeStefano, head of the small group business and senior vice
president of growth at Oscar. “Cigna + Oscar provides a solution
for the unique challenges that small businesses face by offering a
variety of services that meet their employees’ health needs, and at
a cost that helps make it possible to keep their doors open.”
California small businesses with between one and 100 employees2
will have access to unique services driven by the combination of
Cigna’s provider relationships and Oscar’s consumer-centric,
tech-driven approach to customer service and care navigation,
including:
- Expected monthly savings for businesses and their employees.
- Range of plan options across price points to meet the needs of
every employee.
- Behavioral health benefits, with specialized coaching support
to help keep teams productive and healthy.
- Local and nationwide networks of quality doctors, hospitals,
and specialists.
- Cigna LocalPlus®, a locally designed network of quality
providers offering quality, cost-effective medical care.
- Cigna Open Access Plus network, a national network of quality,
cost-effective providers.
- 24/7 virtual urgent care to support employees wherever they
are, at $0 co-pay.
- Affordable and easy-to-access pharmacy services.
- Express Scripts pharmacists, nurses and specialty drug
experts.
- Dedicated care team experts to help employees understand their
benefits, find nearby care, and get the most value out of their
plan.
Cigna and Oscar will share risk equally under a reinsurance
agreement for solutions offered through this strategic partnership
and plan to expand the partnership over time.
About Cigna Cigna Corporation (NYSE: CI) is a global
health service company dedicated to improving the health,
well-being and peace of mind of those we serve. Cigna delivers
choice, predictability, affordability and access to quality care
through integrated capabilities and connected, personalized
solutions that advance whole person health. All products and
services are provided exclusively by or through operating
subsidiaries of Cigna Corporation, including Cigna Health and Life
Insurance Company, Connecticut General Life Insurance Company,
Evernorth companies or their affiliates, and Express Scripts
companies or their affiliates. Such products and services include
an integrated suite of health services, such as medical, dental,
behavioral health, pharmacy, vision, supplemental benefits, and
other related products. Cigna maintains sales capability in over 30
countries and jurisdictions, and has more than 175 million customer
relationships throughout the world. To learn more about Cigna®,
including links to follow us on Facebook or Twitter, visit
www.cigna.com.
About Oscar Health, Inc. Oscar Health, Inc. (NYSE: OSCR)
is the first health insurance company built around a full stack
technology platform and a relentless focus on serving its members.
At Oscar, our mission is to make a healthier life accessible and
affordable for all.
Headquartered in New York City, Oscar has been challenging the
health care system's status quo since our founding in 2012. The
company’s member-first philosophy and innovative approach to care
has earned us the trust of approximately 529,000 members across 291
counties, as of January 31, 2021. We offer Individual & Family,
Small Group and Medicare Advantage plans. Our vision is to refactor
health care to make good care cost less. Refactor is a term used in
software engineering that means to improve the design, structure,
and implementation of the software, while preserving its
functionality. At Oscar, we take this definition a step further. We
improve our members’ experience by building trust through deep
engagement, personalized guidance, and rapid iteration.
1 Cigna + Oscar coverage is insured by Cigna Health and Life
Insurance Company. CA: benefits administered by Oscar Health
Administrators. Other states: benefits administered by Oscar
Management Corporation. Pharmacy benefits provided by Express
Scripts, Inc. Cigna + Oscar health insurance contains exclusions
and limitations. For complete details on product availability and
coverage, please refer to your plan documents or contact a
representative.
2 Cigna + Oscar plans are built for small businesses with at
least one qualified full-time (or full-time equivalent) employee,
other than the business owner or their spouse.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210408005556/en/
MEDIA CONTACTS: Courtney Nogas, Cigna 860.902.5531
Courtney.Nogas@cigna.com Jackie Kahn, Oscar 202.538.0128
JKahn@hioscar.com
Cigna (NYSE:CI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cigna (NYSE:CI)
Historical Stock Chart
From Apr 2023 to Apr 2024