Managed care provider Cigna Corp. will add 15 more states to its market for individual Medicare Advantage plans next year as part of a push to grow its senior business.
The Philadelphia-based insurer will introduce the plans in California, Florida, Illinois, Massachusetts and Ohio, among other states.
It also will expand the number of counties in which it offers Medicare Advantage plans in its 13 existing states.
Medicare Advantage plans are largely financed by the federal government and run by private insurers. They generally offer more benefits than Medicare. Congress has reduced spending on these plans to help avoid a cut in Medicare reimbursement for doctors.
But Cigna spokeswoman Lindsay Shearer said this didn't affect the company's expansion plans.
"This is a population that we have been planning to expand our services to for some time," she said.
The insurer also is adding some preventive dental care reimbursement to its Advantage plans for next year. Some of the plans also come with Medicare Part D prescription drug coverage.
Cigna started offering Medicare Advantage coverage last year.
The insurer's share price fell 22 cents to $33.76 Wednesday.
Copyright 2008 AP Features
