Cigna

David Cordani is stepping down as Cigna CEO after 17 years, during which the company's revenue grew from $18 billion to $275 billion. He attributed the recent public distrust in health insurers to rising healthcare costs and responded by launching Cigna's 'Commitments to Better' initiative to rebuild trust. The December 2024 shooting of UnitedHealthcare CEO Brian Thompson heightened industry tensions, prompting Cigna to prioritize active listening to address societal concerns.

Cigna will stop covering GLP-1 weight loss drugs like Wegovy and Zepbound in its employee health plan starting July 1, directing users to cash-pay options. A study suggests long-term use of GLP-1 drugs could reduce knee replacement risk by up to 5% over eight years. Prices for these drugs are declining in 2026 with new oral versions.

Arizona Attorney General Kris Mayes filed a lawsuit against MultiPlan (now Claritev) and major insurers like Aetna, Cigna, and UnitedHealthcare, alleging they colluded to use a proprietary algorithm to set lower rates for out-of-network care, underpaying providers and shifting costs to patients. The lawsuit claims this violated Arizona’s anti-trust and consumer fraud laws, while MultiPlan denied the allegations, stating the case is 'without merit.'

Billy Orgel and Dedrick Brittenum Jr. have been appointed to a state-led oversight board overseeing Memphis-Shelby County Schools. The board, which will control key district decisions until 2030, includes members from various professional backgrounds, including business, law, and education.

The article discusses health insurance denials in America, specifically the practice of requiring prior authorizations. Major health insurers such as Cigna, UnitedHealthcare, and Aetna are mentioned. The article highlights the issue of denying coverage for treatments deemed not medically necessary.

Cigna is exiting the Affordable Care Act (ACA) exchanges by 2027, exacerbating instability in the individual health insurance marketplace following the loss of enhanced federal subsidies. The company reported a strong first-quarter financial performance despite the decision.