The red-hot health-plan business for seniors is finally cooling off ...Middle East

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The red-hot health-plan business for seniors is finally cooling off
Health insurance giant Cigna is exiting the lucrative senior business that’s been a boon to insurers’ bottom lines for years. It’s a sign that the glory days of Medicare Advantage might be coming to an end. Last week, Cigna said it struck an agreement to sell its Medicare Advantage plans to Illinois-based insurer Health Care Service Corp. for $3.7 billion, a deal that’s been rumored to be in the works for weeks. Medicare Advantage is the private version of the federal program providing health coverage to people 65 and older. Cigna’s senior business isn’t the biggest, but it’s also nothing to sneeze at. It’s got 600,000 Medicare Advantage members and brought Cigna about $9 billion in revenu

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