Health insurer Cigna's unit Evernorth Health said on Wednesday it will make changes to help lower out-of-pocket cost of prescription drugs for patients at its pharmacy stores. The changes will protect patients from paying a high list price for their medication by giving them access to lower prices negotiated by Cigna's pharmacy benefit manager,
Cigna Group plans to limit patients’ out-of-pocket expenses for medications as the insurer faces pressure from Washington over its role in prescription costs.
Cigna's unit Evernorth Health said on Wednesday it will take several steps to help lower out-of-pocket cost of prescription drugs for patients at its pharmacy stores.
Leigh Thomas, a local woman with a chronic condition, was urging Cigna Health Insurance and Christ Hospital to reach an agreement on coverage.
Global health insurance company The Cigna Group CI is set to report fourth-quarter 2024 results on Jan. 30, 2025, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $7.
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Cigna Group closed 17.56% short of its 52-week high of $370.83, which the company reached on September 16th.
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From 2017 to 2022, the companies marked up prices at their pharmacies by hundreds or thousands of percent, netting them $7.3 billion in revenue.
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It’s the latest step from pharmacy benefit managers to respond to relentless criticism from politicians and regulators over prescription drug costs.