Cigna And Oscar Announce Strategic Partnership To Offer Diff
BLOOMFIELD, Conn. and NEW YORK, Jan. 13, 2020 /PRNewswire/ -- Cigna, a leading global health service company, and Oscar, a tech-driven health insurance company, today announced an exclusive partnership to jointly provide commercial health solutions to small businesses.
"Small businesses are the backbone of the American economy and through this partnership, we can take a disciplined approach to offering differentiated health care solutions that help small businesses save money, expand network and product choice and keep employees healthy," said Julie McCarter, Vice President of Product Solutions at Cigna.
The American economy is driven by small businesses, which account for more than 40% of net job creation in 2018. It is a highly dynamic space with more than 500,000 new companies started every month. Small group health plans serve approximately 15 million people in the U.S. today and those offering comprehensive health plans give businesses a competitive advantage in hiring and attracting top talent.
"Together, we are giving small business owners an affordable, simple-to-use option that makes it easier for their employees to get appropriate care quickly and stay healthy," said Joel Klein, Chief Policy and Strategy Officer at Oscar. "Cigna + Oscar will give these business owners and their employees consumer-centric health care coverage and physician networks that provide personalized care."
The companies will provide affordable, seamless, fully insured health benefits under the Cigna + Oscar brand to the small group market. Services will include:
Cigna and Oscar plan to share risk equally under a reinsurance agreement for solutions offered through this strategic partnership. Pending regulatory approvals, the companies will launch in select markets in 2020 and plan to expand the partnership over time.
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, Cigna Life Insurance Company of New York, Connecticut General Life Insurance Company, Express Scripts companies or their affiliates, and Life Insurance Company of North America. 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 including group life, accident and disability insurance.
Cigna maintains sales capability in over 30 countries and jurisdictions, and has more than 165 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.
Oscar is the first health insurance company built to make health care easy. Headquartered in New York City, Oscar has been challenging the health care system's status quo since our founding in 2012, developing seamless technology and providing personalized support to help our members navigate their health care. Oscar was the first insurer to offer free, 24/7 telemedicine to members and to integrate direct scheduling with providers through our app.
Oscar plans also include access to a network of first-rate physicians and hospitals, as well as a personalized Concierge team that supports members every step of the way, from finding a doctor to navigating costs. Oscar is known for our easy-to-use digital tools, including a website and mobile app that let members view their health history, speak directly with their Concierge team, and access their account information.
All products and services are provided exclusively by or through operating subsidiaries of Mulberry Health Inc., including Oscar Insurance Company and its affiliates. Say hi or learn more at https://www.hioscar.com or follow us at https://twitter.com/OscarHealth.
Ellie Polack, Cigna
Jackie Kahn, Oscar
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