Thread regarding Cigna layoffs

https://ionanalytics.com/insights/mergermarket/elevance-health-not-pursuing-cigna-medical-advantage-auction/

Why are you saying that? Would like to know what your pain points are

Cigna has proven that we are completely incapable of running a successful Medicare business. So it should either be sold, or we need to do something like the Humana deal to actually become a Medicare player.

HealthSpring was such a colossal waste of money that could have been used to help fix our huge infrastructure problems in our commercial business.

I haven’t seen any updates. From the articles I’ve read, bids are due this week. Not sure when anything would be announced.

A year ago in late 2022, if you were to ask me (Medicare Employee) if I would support Cigna Medicare being sold off, I would have ferociously been against that Idea. One year later and the Cigna work culture has deteriorated so bad due to FOW, layoffs, many reorgs, and unachievable metrics... Now I wouldn't mind it such an idea. Perhaps divesting Medicare might foster a refresh to our work culture that we so desperately need. Cordani has damaged Cigna's work culture so bad that I fear it will only get worse.

Any updates?? Are bids due this week.

Hchs would be less overlap and better benefits than Cigna 100%

I am sort of rooting for HCSC.

There’s no guarantee they’ll take either bid according to some articles I read

Any thoughts on who will likely win the bid? Isn't Elevance trying to buy BCBS of Louisiana also? At first thought I wondered if they had deeper pockets, but now I don't know.

And, anyone that survived the Great- West or ESI acquisitions have any thoughts on timelines of layoffs?

“ Since Cigna’s MA enrollment is around 550M”

I think you meant more like 550K.

“ I wonder if a deal is reached next week how long it will take to know if you are going to be working with the new company?”

18-24 months.
Since Cigna’s MA enrollment is around 550M members, I doubt the sale gets a ton of government scrutiny.

The concern for Cigna MA emps will be the number of jobs that are cut in order to bring expenses in line with revenue.

Hopeful it’s not like the First Source experience that was pulled from another thread. I’d rather take Severance.

And yes, the benefits are nearly 3x the amount it was at Cigna, and no, we didn’t know that prior to signing the contract. If we didn’t sign the contract, we would of been sh-t out of luck, no severence no nothing. Take the job or you can only get unemployment.

I wonder if a deal is reached next week how long it will take to know if you are going to be working with the new company?

I’m sure whoever purchase Cigna Medicare will take some of Cigna employees in the acquisition. I’m also sure that There will be certain terms in place that way they will only take x amount of employees and I’m Cigna will be laying off more employees prior to the final sale.

True, redundant or duplicate jobs will eventually be eliminated, but not right away. The new company will need time to absorb Cigna into it's self. It also might provide opportunity for some duplicate positions to shift or move to different positions too. I see more job overlap with Anthem and less overlap with HCSC.

Are you forgetting that being purchased by another company would make some MA staff redundant? Layoffs will certainly happen for MA.

I guess we Cigna Medicare employees should start researching HCSC and Elevance employee benefits.

According to Glassdoor, Elevance is rated at a 3.6 and HCSC is rated higher at 3.9
Meanwhile Cigna is currently rated at 3.5.
So either company might be a slight step up from what it is to work at Cigna now. Perhaps the new move would put an end to FOW/RTO? I am starting to think this might be a good thing for us Cigna Medicare employees.

Does anyone have insight as to what company would offer the best benefits/pay?