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"The Big Picture" Newsletter
July/August 2006
Latest News
CIGNA Corporation reports 2nd quarter results
Chairman and CEO Hanway: Results
exceed expectations
In its 2nd
quarter earnings report, CIGNA
Corporation announced $273 million in
net income. Second quarter results
reflect solid earnings in CIGNA's health
care business and strong results in the
disability and life and international
businesses. According to CIGNA Chairman
and CEO H. Edward Hanway, "Overall
our second quarter results were better
than expected, and our health care membership
remains on track to grow organically
this year."
Coping with a flu pandemic – before
it occurs
CIGNA works with world and
national organizations to increase
preparedness
Because of the potential loss of life
and disruption to business operations,
government functions and health care systems,
the threat of a pandemic has become a pressing
global concern. National and international
leaders cite the urgent need for solid
planning and extensive communication. Learn
more about CIGNA's enterprise-wide
commitment to ongoing business continuity
planning to better protect our employees
and serve our customers and plan participants
during an emergency situation.
CIGNA Pharmacy Management gains drug purchasing
certification
Recognized by HR Policy for
pharmaceutical contracting compliance
HR Policy Association (HR Policy) has
certified CIGNA Pharmacy Management (CPM)
for meeting or exceeding HR Policy pharmaceutical
contracting principles. Achieving this
certification comes after meeting the
most rigorous evaluation in the marketplace
of drug purchasing transparency. HR Policy's
Pharmaceutical Purchasing Coalition is
made up of more than 50 large employers
who purchase pharmacy benefits for more
than five million Americans.
Product Spotlight
New generic drug alternatives
add up to savings
Generic Zocor and Zoloft released
Each time a generic alternative to a brand
drug is introduced, employers and members have
a new opportunity to save. With the release
of the generic version of Zocor® (simvastatin), CIGNA
Pharmacy Management (CPM) estimates
that employers could save $.12 per member per
month for the remainder of 2006, and approximately
$.46 per member per month in 2007. For Zoloft®,
employers could save approximately $.01 per
member per month for the remainder of 2006
and approximately $.30 per member per month
in 2007. Overall, CPM expects employers and
their members to be able to save over $58 million
on the cost of their prescriptions, due to
new generics through its Save with
Generics program, which is focused
on presenting members with affordable medication
alternatives and offering employers long-term
savings opportunities.
Technology Update
New service group formed for CIGNA plan
members
Innovation Lab will help members optimize plan selection
and usage
CIGNA HealthCare recognizes the importance
of consistent, high-quality service to consumers,
and to help ensure its delivery, CIGNA has
created an Innovation Lab to discuss
health benefit and related financial information
with consumers and help them optimize their
health, benefits and plan selections. The Innovation
Lab will staff 100 specially trained consumer
advisors who will respond to inquiries
about participating members' CIGNA plans, to
help provide health care cost estimates and
treatment quality information, offer pre-enrollment
guidance, and connect consumers with available
health advocacy programs.
CIGNA Dental expands electronic service
offering
Next generation of e-Service tool adds new
features
CIGNA Dental has
introduced a new generation of its e-Service tool,
which enables CIGNA Dental Care (DHMO) members
and network providers to request and receive
plan benefit information (Patient Charge
Schedules, or PCS) electronically via e-mail.
Extending the power and convenience of e-Service
further, CIGNA Dental has added new functionality
including increased PCS Information, increased
network provider access to patient charge
schedules, and the creation of DHMO and PPO
provider directories.
Regional News
What's happening locally
CIGNA HealthCare news for your area
Get the latest CIGNA HealthCare news for your part of the country. Every month, we post new articles of interest and update the states to which they apply. Here's where you'll also find up-to-date local contact information to help you with your questions and concerns. Want to know the news for your area? Find out here.
(NOTE: States with new articles of special interest are highlighted in blue.)
"CIGNA" or "CIGNA HealthCare" refers to various operating subsidiaries of CIGNA Corporation. Products and services are provided by these subsidiaries and not by CIGNA Corporation. These subsidiaries include Connecticut General Life Insurance Company, Tel-Drug, Inc. and its affiliates, CIGNA Behavioral Health, Inc., Intracorp, and HMO or service company subsidiaries of CIGNA Health Corporation and CIGNA Dental Health, Inc.
In Arizona, HMO Plans are offered by CIGNA HealthCare of Arizona, Inc. In California, HMO plans are offered by CIGNA HealthCare of California, Inc. In Virginia, HMO plans are offered by CIGNA HealthCare of Virginia, Inc. and CIGNA HealthCare Mid-Atlantic, Inc. In North Carolina, HMO plans are offered by CIGNA HealthCare of North Carolina, Inc. All other medical plans in these states are insured or administered by Connecticut General Life Insurance Company.
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