Welcome!

Wearables Authors: Elizabeth White, Carmen Gonzalez, Kevin Jackson, Liz McMillan, Pat Romanski

News Feed Item

CORRECTING AND REPLACING MULTIMEDIA Cigna: Consumer-Driven Health Plans Flourish Despite Difficult Economy, Increasing Regulations

Please replace the graphic with the accompanying corrected pdf.

The corrected release reads:

CIGNA: CONSUMER-DRIVEN HEALTH PLANS FLOURISH DESPITE DIFFICULT ECONOMY, INCREASING REGULATIONS

  • Cigna CDHP customer base grew 26 percent in 2012
  • Cigna Study: CDHP customers lowered their costs an average of 13 percent while improving their health profile
  • CDHP customers are more engaged in making informed health care choices

In the face of another year of economic volatility and legislative and regulatory change, Cigna's consumer-driven health plan (CDHP) participation grew by 26 percent during 2012, resulting in one-in-five Cigna customers now participating in a Health Savings Account (HSA) or Health Reimbursement Account (HRA).

“The growth of consumer-driven health plans continues because they help customers reduce their health risks and improve the quality and efficiency of their care, which result in lowering their total medical costs,” said Cigna President and Chief Executive, David M. Cordani. “The evidence in our Seventh Annual Cigna Choice Fund Experience Study is clear, consistent and compelling: our CDHP customers are more engaged with their health and health spending, they spend less to receive the same levels of recommended care, and are more satisfied with their health care experience.”

Released today, the Seventh Annual Cigna Choice Fund Experience Study compares the actual claims experience of more than 2.5 million Cigna customers who are enrolled in either a CDHP, a traditional PPO or HMO health plan. The annual study provides empirical evidence that properly designed CDHP plans improve total medical cost without compromising care or shifting costs from the employer to employees.

According to the study, when compared to customers in traditional PPO and HMO plans, those in a CDHP:

  • Lowered their health risks: Cigna CDHP customers lowered their risk of developing or worsening a chronic condition. According to the study, when employers fully transitioned to offering only a CDHP option, individuals improved their health risk profile by 12 percent in the first year compared to customers in a traditional plan.
  • Reduced total medical costs: Cigna CDHP medical cost trend was 13 percent lower than traditional plans during the first year: costs were 20 percent lower for HSA customers and 11 percent lower for HRA participants. Cost reductions were achieved without employers shifting out-of-pocket health expenses to their employees. Notably 75 percent of HSA customers contribute more to their accounts than they spend.
  • More engaged in health improvement: Cigna CDHP customers were twice as likely to complete a health risk assessment and CDHP customers with a chronic illness are up to 25 percent more likely to participate in a disease management program than those enrolled in a traditional plan.
  • Were more likely to compare cost and quality: Cigna CDHP customers were 59% more likely to use the directory to access cost and procedure information to help them review potential medical costs.
  • Were more savvy consumers of health care: Customers with Cigna Choice Fund plans and Cigna pharmacy benefits were more likely to choose generic medications compared to those in a traditional plan. In addition, CDHP customers used the emergency room at a six percent lower rate than individuals enrolled in HMO and PPO plans.
  • Received higher levels of care: Cigna CDHP customers had consistent or higher compliance with over 300 evidenced-based medical best practices than their counterparts in traditional plans. Cigna CDHP customers also sought preventive care, such as annual office visits and mammograms, more frequently than customers enrolled in a traditional plan.

One company that is utilizing Cigna’s Choice Fund consumer-driven health plans is JPMorgan Chase, a leading global financial management firm. According to JPMorgan Chase Healthcare & Insurance Plans Manager, Kathy Roehrig: “JPMorgan Chase opted for fully replacing our medical plan options with consumer-driven health options in order to encourage our employees and their families to focus more on the current status of their health, to improve or maintain that status (for those that were healthy) over the short and long term, and to become educated consumers of health care services by using providers/drugs that are considered quality and cost effective alternatives.”

“While we just completed our first year under the new plan, we’ve seen many people taking steps to monitor and improve their health, including receiving age- and gender-appropriate preventive care screenings at rates above industry averages, increased visits to a primary care physician, good usage of Wellness Screenings where 14% of those screened learned about a health risk for the first time, and increased usage of generic medications,” Roehrig said. “We feel providing appropriate access to quality health care providers, information regarding the quality and cost of those various providers, and appropriate health and condition management coaching programs are important components to our success. Incentives and communications are used to encourage our employees to better understand their options and make decisions that are right for them and their families.”

Cigna continues to improve its CDHP offering, including a new, free myCigna Mobile App for customers to help manage their health plan benefits to:

  • find a doctor using Cigna’s award-winning physician directory,
  • access ID cards in one convenient location,
  • view and manage account balances and deductibles,
  • look up medical, dental and pharmacy claims,
  • research and compare drug prices at 60,000 pharmacies

The new myCigna Mobile App is available to all Cigna U.S. health plan customers with smart phone or tablet mobile devices for download from the App StoreSM or Google Play.

About Cigna

Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America, Cigna Life Insurance Company of New York and their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy and vision care benefits, and other related products including group disability, life, and accident coverage. Cigna has sales capability in 30 countries and jurisdictions, with approximately 75 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 JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. More information is available at www.jpmorganchase.com.

About Apps

App Store is a service mark of Apple Inc. Google Play is a trademark of Google Inc.

The downloading and use of these Apps is subject to the terms and conditions of the Apps and the online stores from which they are downloaded. Standard mobile phone carrier and data usage charges apply.

Actual myCigna mobile app features available may vary depending on your plan. The listing of a health care professional or facility in the mobile directories available through the myCigna mobile app does not guarantee that the services rendered by that professional or facility are covered under your specific medical plan. Check your official plan documents, or call the number listed on your ID card, for information about the services covered under your plan benefits.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.